Section 11-301 - Offers, sales, or purchases. - Maryland Statutes

§ 11-301. Offers, sales, or purchases.
 

It is unlawful for any person, in connection with the offer, sale, or purchase of any security, directly or indirectly to: 

(1) Employ any device, scheme, or artifice to defraud; 

(2) Make any untrue statement of a material fact or 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 on any person. 
 

[An. Code 1957, art. 32A, § 13; 1975, ch. 311, § 2.]