A person may not, in connection with the offer, sale, or purchase of a security, directly or indirectly,

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

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Terms Used In Alaska Statutes 45.56.500

  • deceit: include common law deceit. See Alaska Statutes 45.56.900
  • defraud: includes engaging in common law deceit. See Alaska Statutes 45.56.900
  • Fraud: Intentional deception resulting in injury to another.
  • person: means an individual, a corporation, a partnership, a limited liability company, a limited partnership, a limited liability partnership, an association, a joint-stock company, a trust in which the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government, or a political subdivision of a government. See Alaska Statutes 45.56.900
  • sale: includes every contract of sale, contract to sell, or disposition of a security or interest in a security for value, and "offer to sell" includes every attempt or offer to dispose of, or solicitation of an offer to purchase, a security or interest in a security for value. See Alaska Statutes 45.56.900
  • security: means a note. See Alaska Statutes 45.56.900
  • state: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Alaska Statutes 45.56.900
(2) make an untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which they were made, not misleading; or
(3) engage in an act, practice, or course of business that operates or would operate as a fraud or deceit on another person.