[§514B-94]  Misleading statements and
omissions; remedies.  (a)  No person may:



(1)  Knowingly authorize, direct, or aid in the
publication, advertisement, distribution, or circulation of any false statement
or representation concerning any project offered for sale or lease; or



(2)  Issue, circulate, publish, or distribute any
advertisement, pamphlet, prospectus, or letter concerning a project that
contains any false written statement or is misleading due to the omission of a
material fact.



(b)  Every sale made in violation of this
section shall be voidable at the election of the purchaser; and the person
making the sale and every director, officer, or agent of or for the seller, if
the director, officer, or agent has personally participated or aided in any way
in making the sale, shall be jointly and severally liable to the purchaser in
an action in any court of competent jurisdiction upon tender of the units sold
or of the contract made, for the full amount paid by the purchaser, with
interest, together with all taxable court costs and reasonable attorneys' fees;
provided that no action shall be brought for the recovery of the purchase price
after two years from the date of the sale; and provided further that no
purchaser otherwise entitled shall claim or have the benefit of this section
who has refused or failed to accept within thirty days an offer in writing of
the seller to take back the unit in question and to refund the full amount paid
by the purchaser, together with interest at six per cent on the amount for the
period from the date of payment by the purchaser down to the date of repayment.
[L 2005, c 93, pt of §4]