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80A.68(3)
Statute ID:
13175
Statute Function ID:
28831
Securities - Sale or Purchase - Operate or Would Operate as Fraud or Deceit
In Effect
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Function Details
History
Text
Charge
Classifications
Offense Level:
Felony (F)
General Offense Code:
Property (2)
Offense Summary Code & Rank:
Counterfeiting/Fraud, etc (C) (Rank 23)
Detailed Offense Code:
Fraudulent Trade/Commerce (290)
Offense Severity Level:
Function Text:
UCR Code
Description
26A
Fraud Offenses-False Pretenses/Swindle/Confidence Game
Flags
Crime of Violence:
No
Targeted Misdemeanor:
No
Predatory Offender Registration Review:
No
Enhanceable:
No
Certify to DPS:
No
Report to DNR:
No
DPS Group:
No
Conditional Release:
No
Payable:
No
Petty Misdemeanor Only if Prosecutor Certifies:
No
Third Violation Indicator:
No
Qualified Domestic Violence Related:
No
Nonviolent Controlled Substance Offender Review:
No
Wildlife Restitution:
No
Statute Number:
80A.68(3)
Enactment Date:
May 11, 2006
Effective Date:
Aug 1, 2007
Expiration Date:
Repealed?:
No
Summary Text:
Securities - Sale or Purchase - Operate or Would Operate as Fraud or Deceit
Statute ID:
13175
Created:
Sep 22, 2009 by mnjis.legal.analyst@state.mn.us
Updated:
Sep 22, 2009 by mnjis.legal.analyst@state.mn.us
Last Update Action:
Added
Legal Analyst Comment:
2006 c 196 art 1 s 28,52
Summary Text:
Securities - Sale or Purchase - Operate or Would Operate as Fraud or Deceit
Link to MN Statute Text:
https://www.revisor.leg.state.mn.us/stats/80A/68.html
Legislative Session:
2006 - Regular
Session Law Text?:
No
Statute text last updated on:
Sep 22, 2009
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 a statement made, in the light of the circumstances under which it is 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.
