Rhode Island § 19-28.1-17 § 19-28.1-17. Fraudulent, deceptive and prohibited practices.

Rhode Island Statutes

§ 19-28.1-17 — § 19-28.1-17. Fraudulent, deceptive and prohibited practices.

Rhode Island § 19-28.1-17

Title 19Financial institutions

Ch. 19-28.1Franchise Investment Act

This text of Rhode Island § 19-28.1-17 (§ 19-28.1-17. Fraudulent, deceptive and prohibited practices.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 19-28.1-17 (2026).

Text

§ 19-28.1-17. Fraudulent, deceptive and prohibited practices.
In connection with the offer or sale of a franchise it is unlawful for a person, directly
            or indirectly, to:
         
(1) Employ a device, scheme, or artifice to defraud;
         
(2) Make an untrue statement of 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;
         
(3) Engage in an act, practice, or course of business that operates or would operate as
            a fraud or deceit 

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§ 19-28.1-17. Fraudulent, deceptive and prohibited practices.

In connection with the offer or sale of a franchise it is unlawful for a person, directly or indirectly, to:

(1) Employ a device, scheme, or artifice to defraud;

(2) Make an untrue statement of 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;

(3) Engage in an act, practice, or course of business that operates or would operate as a fraud or deceit on a person;

(4) Represent to an offeree of a franchise that the filing of a franchise registration application or the registration of a franchise constitutes a finding by the director that a document filed under the act is true, complete, and not misleading or that the director has passed upon the merits of the franchise;

(5) Misrepresent that a franchise is registered or exempted from registration under this act;

(6) Violate an order of the director after the person receives notice that the order was issued;

(7) Fail to notify the director of a material change in the information required in a document required to be filed by this act or a rule or order under this act; or

(8) Omit to state a material fact, or make or cause to be made an untrue statement of a material fact, in any application, notice, or report filed with the director under this act.