{"data":{"id":"us-sd/sdcl-47-31b-501","jurisdiction":"us-sd","citation":"SDCL § 47-31B-501","heading":"General fraud.","body":"It is unlawful for a person, in connection with the offer, sale, or purchase of a security, directly or indirectly:\n(1) To employ a device, scheme, or artifice to defraud;\n(2) 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\n(3) To engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.","path":["TITLE 47. CORPORATIONS","CHAPTER 47-31B. UNIFORM SECURITIES ACT OF 2002"],"source_url":"https://sdlegislature.gov/Statutes/47-31B-501","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"29097e68b65d3d703310c682b4b56e13de6f3b79cbe12791679820061e6a9b96","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-31b-412","next":"us-sd/sdcl-47-31b-502"},"notice":"GroundRules: Original legal text. Not legal advice."}