South Dakota § 37-5B-25 Fraud--Class 6 felony.

South Dakota Statutes

§ 37-5B-25 — Fraud--Class 6 felony.

South Dakota·Title 37 TRADE REGULATION·Ch. 37-5B FRANCHISE INVESTMENT

No person may, directly or indirectly, in connection with the offer or sale of a franchise willfully:

(1)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;

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

(3)Represent to a prospective franchisee that the notice filing of a franchise application constitutes a finding by the director that a disclosure document filed under this chapter is true, complete, and not misleading or that the director has passed upon the merits of the disclosure document and the franchise;

(4)Violate an order of the director after the p

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No person may, directly or indirectly, in connection with the offer or sale of a franchise willfully: (1) 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; (2) Engage in an act, practice, or course of business which operates or would operate as a fraud or deceit on a person; (3) Represent to a prospective franchisee that the notice filing of a franchise application constitutes a finding by the director that a disclosure document filed under this chapter is true, complete, and not misleading or that the director has passed upon the merits of the disclosure document and the franchise; (4) Violate an order of the director after the person receives notice that the order was issued; (5) Misrepresent that a franchise is notice filed or exempted from notice filing under this chapter; and (6) 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 chapter. A violation of this section is a Class 6 felony.

South Dakota § 37-5B-25 (Fraud--Class 6 felony.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.