30-10-909. Fraudulent and other prohibited practices. (1) It is unlawful for a person, in connection with the offer or sale of any living trust, directly or indirectly, in, into, or from this state, to:
     (a) employ any device, scheme, or artifice to defraud;
     (b) make any untrue statement of a material fact;
     (c) fail to state a material fact necessary to render any statement made not misleading; or
     (d) engage in any other act, practice, or course of business that operates or would operate as a fraud or deceit upon any person.
     (2) It is unlawful for a person to sell a living trust to a person for whom a living trust is not suitable.

     History: En. Sec. 9, Ch. 348, L. 1997.