Kansas Statutes 50-1017. Prohibited acts
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 50-1017
- Contract: A legal written agreement that becomes binding when signed.
- Fraud: Intentional deception resulting in injury to another.
- Loan: means any agreement to advance money or property in return for the promise to make payments for the money or property. See Kansas Statutes 50-1001
- Loan broker: means any person who, in return for a fee from any person, promises to procure a loan for any person or assist any person in procuring a loan from any third party, or who promises to consider whether or not to make a loan to any person. See Kansas Statutes 50-1001
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
A loan broker shall not, in connection with an offer of or a contract for the services of a loan broker, either directly or indirectly, do any of the following:
(1) Employ any device, scheme or artifice to defraud;
(2) make any untrue statements of a material fact or omit to state a material fact necessary in order to make the statements made, in the light of circumstances under which they are made, not misleading; or
(3) engage in any act, practice or course of business that operates or would operate as a fraud or deceit upon any person.