Sec. 23. unlawful representations
121 words·~1 min read·
/statute-compilations/comps-1884/sec-23A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## Sec. 23 unlawful representations **[**77w**]** Neither the fact that the registration statement for a security has been filed or is in effect nor the fact that a stop order is not in effect with respect thereto shall be deemed a finding by the Commission that registration statement is true and accurate on its face or that it does not contain an untrue statement of fact or omit to state a material fact, or be held to mean that the Commission has in any way passed upon the merits of, or given approval to, such security. It shall be unlawful to make, or cause to be made, to any prospective purchaser any representation contrary to the foregoing provisions of this section.