Section 409.5-505 – Misleading filings.
Effective – 01 Sep 2003 409.5-505. Misleading filings. — It is unlawful for a person to make or cause to be made, in a record that is used in an action or proceeding or filed under this act, a statement that, at the time and in the light of the circumstances under which it is […]
Section 409.5-506 – Misrepresentations concerning registration or exemption.
Effective – 01 Sep 2003 409.5-506. Misrepresentations concerning registration or exemption. — The filing of an application for registration, a registration statement, a notice filing under this act, the registration of a person, the notice filing by a person, or the registration of a security under this act does not constitute a finding by the […]
Section 409.5-507 – Qualified immunity.
Effective – 01 Sep 2003 409.5-507. Qualified immunity. — A broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative is not liable to another broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative for defamation relating to a statement that is contained in a record required by the commissioner, […]
Section 409.5-508 – Criminal penalties.
Effective – 28 Aug 2009 409.5-508. Criminal penalties. — (a) A person commits the crime of criminal securities fraud when such person willfully violates section 409.5-501. (b) A person commits a criminal securities violation when such person willfully violates any other provision of this act, or a rule adopted or order issued under this act, […]
Section 409.5-509 – Civil liability.
Effective – 01 Sep 2003 409.5-509. Civil liability. — (a) Enforcement of civil liability under this section is subject to the Securities Litigation Uniform Standards Act of 1998. (b) A person is liable to the purchaser if the person sells a security in violation of section 409.3-301 or, by means of an untrue statement of […]
Section 409.5-510 – Rescission offers.
Effective – 01 Sep 2003 409.5-510. Rescission offers. — A purchaser, seller, or recipient of investment advice may not maintain an action under section 409.5-509 if: (1) The purchaser, seller, or recipient of investment advice receives in a record, before the action is instituted: (A) An offer stating the respect in which liability under section […]
Section 409.5-504 – Filing of sales and advertising literature.
Effective – 01 Sep 2003 409.5-504. Filing of sales and advertising literature. — (a) Except as otherwise provided in subsection (b), a rule adopted or order issued under this act may require the filing of a prospectus, pamphlet, circular, form letter, advertisement, sales literature, or other advertising record relating to a security or investment advice, […]
Section 409.5-501 – General fraud.
Effective – 01 Sep 2003 409.5-501. General fraud. — 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; (2) To make an untrue statement of a material fact or to omit to state a […]
Section 409.5-502 – Prohibited conduct in providing investment advice.
Effective – 01 Sep 2003 409.5-502. Prohibited conduct in providing investment advice. — (a) It is unlawful for a person that advises others for compensation, either directly or indirectly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and […]
Section 409.5-503 – Evidentiary burden.
Effective – 01 Sep 2003 409.5-503. Evidentiary burden. — (a) In a civil action or administrative proceeding under this act, a person claiming an exemption, exception, preemption, or exclusion has the burden to prove the applicability of the claim. (b) In a criminal proceeding under this act, a person claiming an exception or exclusion from […]