It shall be unlawful for any person, in connection with the advertising, offering, contracting, sale or promoting of any distributorship in this state:

1. I. To fail to comply with any provision of this chapter;
2. II. To employ any device, scheme or artifice to defraud a distributor;
3. III. To make any untrue statement of a material fact, or to omit to state a material fact in connection with the documents and information required to be furnished to the attorney general or prospective distributor; and
4. IV. To make any claim or representation in advertising or promotional material, or in any oral sales presentation, solicitation, or discussion between the grantor and a prospective distributor, which is inconsistent with the information required to be disclosed by this chapter.

Source. 1977, 307:1. 1985, 300:7, I(b).