Ill. Admin. Code tit. 14 § 135.950

Current through Register Vol. 48, No. 49, December 6, 2024

Section 135.950 - Fraudulent Practices

It shall be a violation of Section 5-95 of the Act for any person, in connection with the offer or sale of any business opportunity in this State sold pursuant to the exemptions granted under Section 5-10(a), (c) or (d) of the Act, directly or indirectly:

a) to employ any device, scheme or artifice to defraud;

b) to make any untrue statement of a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or

c) to engage in any act, practice or course of business which operates or would operate as a fraud or deceit upon any person.

Ill. Admin. Code tit. 14, § 135.950