§ 5501.
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/vt/title-9/chapter-150/5501A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 5501. General fraud
It is unlawful for a person, in connection with the offer to sell, the offer to purchase, the sale, or the purchase of a security, directly or indirectly:
(1)to employ a device, scheme, or artifice to defraud;
(2)to make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or
(3)to engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person. (Added 2005, No. 11, § 1, eff. July 1, 2006.)