61-1-17 - No finding by division on merits -- Contrary representation unlawful. - Utah Statutes

61-1-17. No finding by division on merits -- Contrary representation unlawful.
(1) Neither the fact that an application for registration or a registration statement has beenfiled nor the fact that a person or security is effectively registered constitutes a finding by thedivision that any document filed under this chapter is true, complete, and not misleading. Neitherany such fact nor the fact that an exemption or exception is available for a security or atransaction means that the division has passed in any way upon the merits or qualifications of, orrecommended or given approval to, any person, security, or transaction.
(2) It is unlawful to make, or cause to be made, to any prospective purchaser, customer,or client any representation inconsistent with Subsection (1).

Amended by Chapter 284, 1983 General Session