Maine § 16501. - General fraud
Full text of Maine Maine Revised Statutes § 16501. — General fraud, with citation guidance and answers to common questions.
§ 16501.. General fraud
It is unlawful for a person, in connection with the offer, sale or purchase of a security, directly or indirectly: [PL 2005, c. 65, Pt. A, §2 (NEW).]
1. Device, scheme, artifice. To employ a device, scheme or artifice to defraud;
2. Untrue statement of or omission of material fact. 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. Fraud, deceit. To engage in an act, practice or course of business that operates or would operate as a fraud or deceit upon another person.
Frequently Asked Questions About Maine § 16501.
What does Maine Revised Statutes § 16501. cover?
Section 16501. ("General fraud") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 16501.?
A common citation format is "Maine Revised Statutes § 16501." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 16501. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.