{"data":{"id":"us-mi/mich.-comp.-laws-451.2501","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 451.2501","heading":"Unlawful conduct; fraud.","body":"Sec. 501.\n\nIt is unlawful for a person, in connection with the offer, sale, or purchase of a security or the organization or operation of a Michigan investment market under article 4A, to directly or indirectly do any of the following:\n\n(a) Employ a device, scheme, or artifice to defraud.\n\n(b) Make an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading.\n\n(c) Engage in an act, practice, or course of business that operates or would operate as a fraud or deceit on another person.","path":["MI Code","Chapter 451","Act Act-551-of-2008"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-451-2501","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"d4404cde314ef3336b4067395481d80805cfba2df2904acc9501c7e448feac6a","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-451.2469","next":"us-mi/mich.-comp.-laws-451.2502"},"notice":"GroundRules: Original legal text. Not legal advice."}