Section 23-2-2.5-12 - Escrow or impoundment of franchise fees; inadequate fundingIf the commissioner finds that:
(1) the franchisor has failed to demonstrate that adequate financial arrangements have been made to fulfill obligations to provide real estate, improvements, equipment, inventory, training, or other items included in the offering; and(2) the escrow or impoundment of franchise fees is necessary and appropriate to protect prospective franchisees; the commissioner may by order require the escrow or impoundment of franchise fees and other funds paid by the franchisee until no later than the time of opening of the business of the franchisee.
(Formerly: Acts1975 , P.L. 262, SEC.1.) As amended by P.L. 168-2001, SEC.4.