Idaho Code 55-1812 – Fraudulent Practices
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It shall be a fraudulent practice and it shall be unlawful:
(1) For any person knowingly to subscribe to or make or cause to be made any materially false statement or representation in any application, financial statement or other document or statement required to be filed under any provision of this chapter, or to omit to state any material statement or fact in any such document or statement that is necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading;
Terms Used In Idaho Code 55-1812
- Disposition: includes sale, lease, assignment, award by lottery or any other transaction concerning a subdivision, if undertaken for gain or profit. See Idaho Code 55-1802
- Fraud: Intentional deception resulting in injury to another.
- Offer: includes any inducement, solicitation or attempt to encourage a person to acquire an interest in land, if undertaken for gain or profit. See Idaho Code 55-1802
- Person: means an individual, corporation, government, governmental subdivision or agency, business trust, estate, trust, partnership, unincorporated association, two (2) or more of any of the foregoing having a joint or common interest or any other legal or commercial entity. See Idaho Code 55-1802
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
- subdivided lands: means and includes the following:
Idaho Code 55-1802
(2) For any person, in connection with the offer or disposition of subdivided lands, directly or indirectly, to employ any device, scheme or artifice to defraud;
(3) For any person, in connection with the offer or disposition of subdivided lands, directly or indirectly, to make any 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 are made, not misleading; or
(4) For any person, in connection with the offer or disposition of subdivided lands, directly or indirectly, to engage in any act, practice or course of business that operates or would operate as a fraud or deception upon purchasers or the public.