292.450 Unlawful representations concerning registration or exemption.

216 words·~1 min read·/ky/chapter-292/292-450

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Neither the fact that an application for registration under KRS 292.330 or a

registration statement under KRS 292.350, 292.360, or 292.370 has been filed, nor

the fact that a person or security is effectively registered, constitutes a finding by the

commissioner that any document filed under this chapter is true, complete, and not

misleading.

(2)Neither any such fact nor the fact that an exemption or exception is available for a

security or a transaction means that the commissioner has passed in any way upon

the merits or qualifications of, or recommended or given approval to, any person,

security, or transaction. It is unlawful to make, or cause to be made, to any

prospective purchaser, customer, or client any representation inconsistent with this

section.

(3)Neither the fact that a notice filing for a covered security or for a covered adviser

has been filed, nor the fact that the person, security, or transaction is registered or

exempt from registration, constitutes a finding by the commissioner that any

document filed under this chapter is true, complete, and not misleading or that the

person, security, or transaction is entitled to claim an exemption.

(4)It is unlawful to make or cause to be made to any prospective purchaser, customer,

or client any representation inconsistent with this section.