South Dakota § 47-31B-501 General fraud.

South Dakota Statutes

§ 47-31B-501 — General fraud.

South Dakota § 47-31B-501

Title 47CORPORATIONS

Ch. 47-31BUNIFORM SECURITIES ACT OF 2002

This text of South Dakota § 47-31B-501 (General fraud.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 47-31B-501 (2026).

Text

It is unlawful for a person, in connection with the offer, sale, or purchase of a security, directly or indirectly:

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

(2)To make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or (3) To engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.

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It is unlawful for a person, in connection with the offer, sale, or purchase of a security, directly or indirectly: (1) To employ a device, scheme, or artifice to defraud; (2) To make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or (3) To engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.