4 N.C. Admin. Code 16G.0315

Current through Register Vol. 39, No. 11, December 2, 2024

Section 16G .0315 - MANIPULATIVE AND DECEPTIVE DEVICES

In the offer, sale, or purchase of securities issued incident to its conversion, no savings institution, director, executive officer, attorney, agent, or employee shall:

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

(2) obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in the light of the circumstances that they were made, not misleading; or

(3) engage in any act, transaction, practice, or course of business that operates or would operate as a fraud or deceit upon a purchaser or seller.

04 N.C. Admin. Code 16G .0315

Authority G.S. 54C-33; 54C-53;
Eff. February 15, 1992;
Amended Eff. November 1, 2017;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. November 22, 2018.

Authority G.S. 54C-33; 54C-53;
Eff. February 15, 1992.

Amended by North Carolina Register Volume 32, Issue 11, December 1, 2017 effective 11/1/2017.