{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-502.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-502.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-502.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-502.html"}],"law_id":62839,"edition_id":1,"section_id":62839,"structure_id":16034,"section_number":"13.1-502","catch_line":"Unlawful offers and sales","history":"1956, c. 428.","full_text":"It shall be unlawful for any person in the offer or sale of any securities, directly or indirectly,\n\n1\n\nTo employ any device, scheme or artifice to defraud, or2\n\nTo obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, or3\n\nTo engage in any transaction, practice or course of business which operates or would operate as a fraud or deceit upon the purchaser.","order_by":null,"text":{"0":{"id":229067,"text":"It shall be unlawful for any person in the offer or sale of any securities, directly or indirectly,","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":229068,"text":"To employ any device, scheme or artifice to defraud, or","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":229069,"text":"To obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, or","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":229070,"text":"To engage in any transaction, practice or course of business which operates or would operate as a fraud or deceit upon the purchaser.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2"}},"ancestry":[{"id":16034,"edition_id":1,"name":"Unlawful Practices","identifier":"2","label":"article","depth":3,"order_by":1,"parent_id":13119,"metadata":{},"date_created":"2026-06-26 04:04:20","date_modified":"2026-06-26 04:04:20","permalink":{"id":149811,"object_type":"structure","relational_id":16034,"identifier":"2","token":"13.1\/5\/2","url":"\/13.1\/5\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13119,"edition_id":1,"name":"Securities Act","identifier":"5","label":"chapter","depth":2,"order_by":1,"parent_id":12744,"metadata":{},"date_created":"2026-06-26 03:44:18","date_modified":"2026-06-26 03:44:18","permalink":{"id":149803,"object_type":"structure","relational_id":13119,"identifier":"5","token":"13.1\/5","url":"\/13.1\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12744,"edition_id":1,"name":"Corporations","identifier":"13.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":147493,"object_type":"structure","relational_id":12744,"identifier":"13.1","token":"13.1","url":"\/13.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":62839,"structure_id":16034,"section_number":"13.1-502","catch_line":"Unlawful offers and sales","url":"\/13.1-502\/","token":"13.1\/5\/2\/13.1-502","metadata":false},{"id":75553,"structure_id":16034,"section_number":"13.1-503","catch_line":"Unlawful advice","url":"\/13.1-503\/","token":"13.1\/5\/2\/13.1-503","metadata":false}],"next_section":{"id":75553,"structure_id":16034,"section_number":"13.1-503","catch_line":"Unlawful advice","url":"\/13.1-503\/","token":"13.1\/5\/2\/13.1-503","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-502\/","history_text":"

This law was first created in 1956. The record of its establishment is cataloged in chapter 428 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1956 \u201cActs\u201d aren\u2019t available online.<\/p>","references":[{"id":74119,"section_number":"13.1-514.1","catch_line":"Exemption of certain securities by order of Commission","order_by":null,"url":"\/13.1-514.1\/"},{"id":64194,"section_number":"13.1-522","catch_line":"Civil liabilities","order_by":null,"url":"\/13.1-522\/"}],"refers_to":false,"permalink":{"id":149813,"object_type":"law","relational_id":62839,"identifier":"13.1-502","token":"13.1\/5\/2\/13.1-502","url":"\/13.1-502\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-502\/","token":"13.1\/5\/2\/13.1-502","dublin_core":{"Title":"Unlawful offers and sales","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-502","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

It shall be unlawful for any person in the offer or sale of any securities, directly or indirectly,<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> To employ any device, scheme or artifice to defraud, or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> To obtain money or property by means of any untrue statement of a material<\/span> fact<\/span> or any omission to state a material<\/span> fact<\/span> necessary in order<\/span> to make the statements made, in the light of the circumstances under which they were made, not misleading, or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> To engage in any transaction, practice or course of business which operates or would operate as a fraud<\/span> or deceit upon the purchaser. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nUNLAWFUL OFFERS AND SALES (\u00a7 13.1-502)\n\nIt shall be unlawful for any person in the offer or sale of any securities,\ndirectly or indirectly,\n\n1. To employ any device, scheme or artifice to defraud, or\n\n2. To obtain money or property by means of any untrue statement of a material\nfact or any omission to state a material fact necessary in order to make the\nstatements made, in the light of the circumstances under which they were made,\nnot misleading, or\n\n3. To engage in any transaction, practice or course of business which operates\nor would operate as a fraud or deceit upon the purchaser.\n\nHISTORY: 1956, c. 428.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}