Section 485A-506 - Misrepresentations concerning registration or exemption(a) The filing of an application for registration, a registration statement, a notice filing under this chapter, the registration of a person, the notice filing by a person, or the registration of a security under this chapter shall not constitute a finding by the commissioner that the record filed under this chapter is true, complete, and not misleading.(b) The filing or registration or the availability of an exemption, exception, preemption, or exclusion for a security or a transaction does not mean that the commissioner has passed upon the merits or qualifications of, or recommended or given approval to, a person, security, or transaction.(c) It shall be unlawful to make, or cause to be made, to a purchaser, customer, client, or prospective customer or client, a representation that is inconsistent with this section. L 2006, c 229 , pt of §1 .