Section R. 445.401 - Exemptions based on franchisor's net worth or initial investmentRule 401.
(1) Franchisors relying on the exemptions provided by section 6(2)(a) or (b) of the act shall file the information required on the form and accompanying instructions currently prescribed by the administrator, as well as the documents listed in R 445.201.(2) A franchisor seeking to claim the exemption provided by section 6(2)(a) or (b) of the act shall so state on the cover of its prospectus and agree to abide by the prospectus delivery requirements of section 16 of the act.Mich. Admin. Code R. 445.401