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Ark. Code Ann. § 23-42-507

Fraud or deceit in connection with offer, sale, or purchase of securities

Known as the Arkansas Securities Act

The act spans §§ 23–23 (46 sections).

Applied in 2 court decisions — leading case Hunter v. State (1997)

Most recently applied in Hunter v. State (October 1997)

Acts 1959, No. 254, § 1; A.S.A. 1947, § 67-1235.

It is unlawful for any person, in connection with the offer, sale, or purchase of any security, directly or indirectly:

(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.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.