§ 14-127. False or misleading statement or omission of material fact

Latest version.

(a) Prohibited act. -- A person who sells a business opportunity may not, in a disclosure statement or amendment to it, willfully make a false or misleading statement of a material fact or willfully omit to state a material fact required or necessary to make the statements in a disclosure statement not misleading.

(b) Penalty. -- A person who violates this section is guilty of a felony and, on conviction, is subject for each violation to a fine not exceeding $ 10,000 or imprisonment not exceeding 5 years or both.

HISTORY: An. Code 1957, art. 56, § 415; 1992, ch. 4, § 2; ch. 26, § 4; 1996, ch. 517.

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');