Section R. 445.403 - Reports to be filedRule 403.
(1) Franchisors, directly or indirectly offering to sell or selling franchises in this state under section 6(2)(a) or (b) of the act, shall file with the administrator, within a period of 120 days from the last day of its fiscal year, a copy of their annual report, if any, and an audited certified financial statement or unaudited financial statement prepared by a certified public accountant if the requirement for submission of an audited financial statement has been waived by the administrator.(2) A franchisor, directly or indirectly offering to sell or selling franchises in this state under section 6(2)(a), (b), or (j) of the act, shall file with the administrator, within a period of 120 days from the last day of its fiscal year, graphic representations of the geographical locations sold to the franchisees in the state in the last fiscal year.Mich. Admin. Code R. 445.403