37-25A-43. Fraud, deceit, and misleading statements and omissions prohibited in connection with offer or sale.
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/sd/title-37/chapter-37-25/37-25a-43·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No person, in connection with the offer or sale of any business opportunity in this state, may:
(1)Employ any device, scheme, or artifice to defraud;
(2)Make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading; or
(3)Engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.