Mich. Comp. Laws § 445.1505

Current through Public Act 39 of the 2024 Legislative Session

Section 445.1505 - Prohibited conduct in connection with offer, sale, or purchase of franchise

A person shall not, in connection with the filing, offer, sale, or purchase of any franchise, directly or indirectly:

(a) Employ any device, scheme, or artifice to defraud.

(b) 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.

(c) Engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.

MCL 445.1505

1974, Act 269, Eff. 10/15/1974 ;--Am. 1984, Act 92, Eff. 6/20/1984 .