A loan broker shall not, in connection with an offer of or a contract for the services of a loan broker, either directly or indirectly, do any of the following: (1) Employ any device, scheme or artifice to defraud; (2) make any untrue statements of a material fact or omit to state a material fact necessary in order to make the statements made, in the light of circumstances under which they are made, not misleading; or (3) engage in any act, practice or course of business that operates or would operate as a fraud or deceit upon any person.
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