West Virginia Code 32-1-101 – Sales and purchases
Current as of: 2023 | Check for updates
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It is unlawful for any person, in connection with the offer, sale or purchase of any security, directly or indirectly
Terms Used In West Virginia Code 32-1-101
- Fraud: Intentional deception resulting in injury to another.
- Person: means an individual, a corporation, a partnership, an association, a joint-stock company, a trust where the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government or a political subdivision of a government. See West Virginia Code 32-4-401
- Security: means any note. See West Virginia Code 32-4-401
- State: means any state, territory or possession of the United States, the District of Columbia and Puerto Rico. See West Virginia Code 32-4-401
(1) To employ any device, scheme or artifice to defraud;
(2) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading; or
(3) To engage in any act, practice or course of business which operates or would operate as a fraud or deceit upon any person.