South Dakota Codified Laws 47-31B-501. General fraud
Current as of: 2023 | Check for updates
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It is unlawful for a person, in connection with the offer, sale, or purchase of a security, directly or indirectly:
(1) To employ a device, scheme, or artifice to defraud;
Terms Used In South Dakota Codified Laws 47-31B-501
- Fraud: Intentional deception resulting in injury to another.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
(2) To make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or
(3) To engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.
Source: SL 2004, ch 278, § 29.