Section 23 Statutory Violations

LibraryBus Trans 2005

Failure to comply with the laws of the State of Missouri with regard to the registration of securities can bring both civil and criminal liability. Section 409.5-501, RSMo Supp. 2004, which is Missouri’s equivalent of federal Rule 10b-5, 17 C.F.R. § 240.10b-5, prohibits fraudulent activities involved with the offer, sale, or purchase of securities. Specifically, § 409.5-501 states that:

It is unlawful for a person, in connection with the offer, sale, or purchase of a security, directly or indirectly:

(1)...

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