Sec. 324. Unlawful representations
141 words·~1 min read·
/bill/113/hr/2767/ih/section-324A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It shall be unlawful for any person in offering, selling, or issuing any qualified security pursuant to this subtitle to represent or imply in any manner whatsoever that any action or failure to act by the Agency or Utility in the administration of this subtitle means that the Agency or Utility has in any way passed upon the merits of, or given approval to, any trustee, indenture, or security, or any transaction or transactions therein, or that any such action or failure to act with regard to any statement or report files or examined by the Agency or Utility pursuant to this subtitle or any rule, regulation, or order thereunder, has the effect of a finding by the Agency or Utility that such statement or report is true and accurate on its face or that it is not false or misleading.