It shall be a fraudulent practice, and it
shall be unlawful:
1. For any person knowingly to subscribe to or make or cause to be made
any material false statement or representation in any application, financial
statement, or other document or statement required to be filed under any
provision of this act, or to omit to state any material statement or fact in
any such document or statement which is necessary in order to make the
statements made, in the light of the circumstances under which they are made,
not misleading;
2. For any person, in connection with the offer, disposition, or purchase
of subdivided lands, directly or indirectly, to employ any device, scheme, or
artifice to defraud;
3. For any person, in connection with the offer, disposition, or purchase
of subdivided lands, directly or indirectly, to make any untrue statement of a
material fact or 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
4. For any person, in connection with the offer, disposition, or purchase
of subdivided lands, directly or indirectly, to engage in any act, practice,
or course of business which operates or would operate as a fraud or deception
upon purchasers or the public. |
