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; (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.
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