Sec. 36b-4. (Formerly Sec. 36-472). Prohibited activities re the offer, sale or purchase of any security.
Sec. 36b-4. (Formerly Sec. 36-472). Prohibited activities re the offer, sale or
purchase of any security. (a) No person shall, in connection with the offer, sale or
purchase of any security, directly or indirectly: (1) Employ any device, scheme or artifice
to defraud; (2) 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 (3) engage in any act, practice, or course
of business which operates or would operate as a fraud or deceit upon any person.
(b) No person shall, in connection with the offer, sale or purchase of any security,
directly or indirectly engage in any dishonest or unethical practice.
(P.A. 77-482, S. 3; P.A. 96-192, S. 2.)
History: Sec. 36-472 transferred to Sec. 36b-4 in 1995; P.A. 96-192 added Subsec. (b) to prohibit dishonest or unethical
practices.
Annotations to former section 36-472:
Cited. 233 C. 304. Cited. 235 C. 465. Cited. 242 C. 17.
Cited. 44 CS 72.
Annotations to present section:
A person who aids and abets another's fraudulent conduct in connection with a securities transaction is not in violation
of this section. 233 C. 304. Cited. Id., 352. Cited. 235 C. 465. Cited. 242 C. 17.
Cited. 44 CS 72.