Michigan Legislature - Act 269 of 1974

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Act 269 of 1974

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FRANCHISE INVESTMENT LAW
Act 269 of 1974
AN ACT to regulate the offer, sale, and purchase of franchises; to prohibit fraudulent practices in relation thereto; to prohibit pyramid and chain promotions; to impose regulatory duties upon certain state departments and agencies; and to provide penalties.

History: 1974, Act 269, Eff. Oct. 15, 1974 ;-- Am. 1984, Act 92, Eff. June 20, 1984

The People of the State of Michigan enact:

Document	Type	Description
Section 445.1501	Section	Short title; construction.
Section 445.1502	Section	Definitions.
Section 445.1503	Section	Additional definitions; burden of proof.
Section 445.1504	Section	Arrangements between franchisor and franchisee to which act applicable; making offer or sale of franchise in state; accepting offer to sell in state; communication of acceptance.
Section 445.1504a	Section	Applicability of act.
Section 445.1504b	Section	Franchisee as sole employer.
Section 445.1505	Section	Prohibited conduct in connection with offer, sale, or purchase of franchise.
Section 445.1505a	Section	Franchise opportunities handbook.
Section 445.1506	Section	Exemption of offer and sale of franchise from MCL 445.1507a and 445.1508; circumstances; compliance with MCL 445.1508.
Section 445.1507	Section	Repealed. 1984, Act 92, Eff. June 20, 1984.
Section 445.1507a	Section	Notice required prior to offering for sale or selling franchise; fee; form and contents of notice; indorsement, return, and duration of notice; effect of compliance; penalty for failure to file notice; duty of franchisor with effective registration or exemption from registration; validity and enforceability of franchise documents; written notice of filing date and penalties; failure to notify franchisor.
Section 445.1508	Section	Prospective franchisee to be provided copy of disclosure statement, notice, and proposed agreements; form and contents of disclosure statement; location and contents of notice.
Section 445.1509-445.1511	Section	Repealed. 1984, Act 92, Eff. June 20, 1984.
Section 445.1512	Section	Escrow of initial investment and other funds; time; surety bond; financial institution as escrow agent; release of escrowed funds; affidavit.
Section 445.1513	Section	Conditions prohibiting offering for sale or selling franchise.
Section 445.1514-445.1518	Section	Repealed. 1984, Act 92, Eff. June 20, 1984.
Section 445.1519	Section	Filing change in information contained in notice.
Section 445.1520	Section	Accounts of franchise sales; reports; examination of records.
Section 445.1521	Section	Certain facts not to constitute finding or approval; representation inconsistent with section prohibited.
Section 445.1522	Section	Service of process.
Section 445.1523	Section	Untrue statement, omission, or failure to give notice of change.
Section 445.1524	Section	Filing of advertisement or sales literature; exemption from liability.
Section 445.1525	Section	Publication of false or misleading advertisement prohibited.
Section 445.1526	Section	Repealed. 1984, Act 92, Eff. June 20, 1984.
Section 445.1527	Section	Void and unenforceable provisions.
Section 445.1528	Section	Pyramid.
Section 445.1529, 445.1530	Section	Repealed. 1984, Act 92, Eff. June 20, 1984.
Section 445.1531	Section	Liability for damages or rescission; basis of damages.
Section 445.1532	Section	Joint and several liability.
Section 445.1533	Section	Statute of limitations.
Section 445.1534	Section	Civil liability; liability under other statute or common law.
Section 445.1535	Section	Action by department for injunction, restitution, or compliance; restraining order; writ of mandamus; appointment of receiver or conservator; bond not required; costs; notice of action; opportunity to cease and desist or to confer with department; presumption of immediate and irreparable harm.
Section 445.1536	Section	Investigations; statements under oath; administration of oaths and affirmations; subpoena; evidence; order requiring appearance; self-incrimination; perjury; contempt.
Section 445.1537	Section	Repealed. 1984, Act 92, Eff. June 20, 1984.
Section 445.1538	Section	Violation; penalty; punishing crime under other statute.
Section 445.1539	Section	Prohibited conduct equivalent to appointment of corporations and securities bureau as attorney for service of process; procedure for service of process.
Section 445.1540	Section	Collection and disposition of fees and fines; detailed statement; fee for filing notice under MCL 445.1507a.
Section 445.1541	Section	Rules.
Section 445.1542	Section	Documents subject to MCL 15.231 to 15.246; publication of information; disclosure of information withheld from public inspection; evidence sought under subpoena.
Section 445.1543-445.1545	Section	Repealed. 1984, Act 92, Eff. June 20, 1984.
Section 445.1546	Section	Prior acts, offenses, rights, liabilities, penalties, forfeiture, or punishments not impaired or affected; transfer of records, personnel, and funds.