Indiana Code 23-2-2.5-9. Offer or sale of franchise; requisites; disclosure statement
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Sec. 9. No person may offer or sell any franchise:
(2) without first providing to the prospective franchisee at least ten (10) days prior to the execution by the prospective franchisee of a binding franchise or at least ten (10) days prior to the receipt by the franchisor of any consideration, whichever first occurs, a disclosure statement together with a copy of all proposed contracts relating to the sale of a franchise.
(1) unless the franchise is registered under this chapter or is exempt from such registration under sections 3 through 5 of this chapter; and
Terms Used In Indiana Code 23-2-2.5-9
- Disclosure statement: means the document provided for in section 13 of this chapter and all amendments to such document. 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
- Franchisee: means a person to whom a franchise is granted. See Indiana Code 23-2-2.5-1
- Franchisor: means a person who grants a franchise. See Indiana Code 23-2-2.5-1
- sell: includes every contract or agreement of sale of, contract to sell, or disposition of, a franchise or interest in a franchise for value. See Indiana Code 23-2-2.5-1
Formerly: Acts 1975, P.L.262, SEC.1. As amended by P.L.233-1985, SEC.2.