2002 Minnesota Statutes

     80A.18 Unlawful representations concerning registration 
  or exemption.  

    Neither the fact that a registration statement or an 
 application for a license has been filed nor the fact that a 
 security is effectively registered or a person is licensed 
 constitutes a finding by the commissioner that any document 
 filed under this chapter is true, complete and not misleading.  
 Neither any such fact nor the fact that an exemption or 
 exception is available for a security or a transaction means 
 that the commissioner has passed in any way upon the merits or 
 qualifications of, or recommended or given approval to, any 
 person, security, or transaction.  It is unlawful to make, or 
 cause to be made, to any prospective purchaser, customer or 
 client any representation inconsistent with the foregoing.  

    HIST: 1973 c 451 s 18