It shall be unlawful for any person, in connection with the offer, sale, or purchase of any security, directly or indirectly

1. (a) To employ any device, scheme, or artifice to defraud;
2. (b) To make any untrue statement of a material fact or to 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;
3. (c) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person;
4. (d) To fail to deliver the prospectus filed under the "Securities Act of 1933" to each purchaser of a security registered under that act, in accordance with the prospectus delivery requirements of that act.

L. 1967, c. 93, s. 5. Amended by L. 1985, c. 405, s. 4.