§ 7-11-501 - Offers, sales, and purchases. - Rhode Island Statutes

SECTION 7-11-501

   § 7-11-501  Offers, sales, and purchases.– In connection with the offer to sell, sale, offer to purchase, or purchase of asecurity, a person may not, directly or indirectly:

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

   (2) Make an untrue statement of a material fact or omit tostate a material fact necessary in order to make the statement made, in thelight of the circumstances under which they are made, not misleading; or

   (3) Engage in an act, practice, or course of business thatoperates or would operate as a fraud or deceit on a person.