57-19-10 - Effect of application or registration -- Misleading statements to prospective purchasers a misdemeanor.
57-19-10. Effect of application or registration -- Misleading statements toprospective purchasers a misdemeanor.
Neither the fact that an application for registration or the written disclosures required bythis chapter have been filed, nor the fact that a project has been effectively registered orexempted, constitutes a finding by the director that the offering or any document filed under thischapter is true, complete, and not misleading, nor does either of these facts mean that the directorhas determined in any way the merits or qualifications of, or recommended or given approval to,any person, developer, or transaction involving an interest in a project. It is a class Amisdemeanor to make or cause to be made to any purchaser or prospective purchaser any offeringor document filed under this chapter which is untrue, incomplete, or misleading.
Enacted by Chapter 73, 1987 General Session