§ 14-230. False or misleading statement or omission in prospectus or amendment

   (a) Prohibited act. -- In a prospectus or amendment to it, a person may not willfully make a false or misleading statement of a material fact or willfully omit to state a material fact required to be stated in the prospectus or amendment or necessary to make the statements in the prospectus or amendment 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, § 365A; 1992, ch. 4, § 2; ch. 26, § 4; 2009, ch. 60, § 5.