Indiana Code 23-2-2.5-35. Offer of franchise exempt from registration without compliance with IC 23-2-2.5-3 and IC 23-2-2.5-27; cease and desist order; hearing
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Terms Used In Indiana Code 23-2-2.5-35
- Commissioner: means the Indiana securities commissioner under IC 23-19-6-1(a). See Indiana Code 23-2-2.5-1
- Franchise: includes a contract whereby the franchisee is granted the right to sell franchises on behalf of the franchisor. See Indiana Code 23-2-2.5-1
- Franchisor: means a person who grants a franchise. See Indiana Code 23-2-2.5-1
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
Sec. 35. If, in the opinion of the commissioner, the offer of any franchise exempt from registration under this chapter is being or has been offered for sale without complying with sections 3 and 27, the commissioner may order the franchisor or offeror of such franchise to cease and desist from the further offer or sale of such franchise unless and until such offer is made in compliance with this chapter. If, after such an order has been made, a request for a hearing is filed in writing by the person affected, a hearing shall be held to commence within fifteen (15) days after the request is made, unless the person affected consents to a later date.
Formerly: Acts 1975, P.L.262, SEC.1.