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It is unlawful for any person, in connection with the offer, sale or purchase of any security,
directly or indirectly:
(a) to employ any device, scheme, or artifice to defraud;
(b) to make any untrue statement of a material fact or to omit to state material facts necessary
in order to make the statements made, in the light of the circumstances under which they are
made, not misleading; or
(c) to engage in any act, practice, or course of business which operates or would operate as
a fraud or deceit upon any person.
History: 1973 c 451 s 1
NOTE: This section is repealed by Laws 2006, chapter 196, article 1, section 51, effective
August 1, 2007. Laws 2006, chapter 196, article 1, section 52.

Official Publication of the State of Minnesota
Revisor of Statutes