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§ 14-229. Misleading statements prohibited

West's Annotated Code of MarylandBusiness Regulation

West's Annotated Code of Maryland
Business Regulation (Refs & Annos)
Title 14. Business Opportunities, Franchises, and Multilevel Distribution Companies (Refs & Annos)
Subtitle 2. Franchises (Refs & Annos)
MD Code, Business Regulation, § 14-229
§ 14-229. Misleading statements prohibited
(a) In connection with an offer to sell or sale of a franchise, a person, directly or indirectly, may not:
(1) employ a device, scheme, or artifice to defraud;
(2) make an untrue statement of a material fact or omit to state a material fact necessary in order to make the statement made, in light of the circumstances under which it is made, not misleading; or
(3) engage in an act, practice, or course of business that operates or would operate as a fraud or deceit on another person.
(b) A person who willfully sells a franchise knowingly violating this section is guilty of a felony and, on conviction, is subject for each violation to a fine not exceeding $10,000 or imprisonment not exceeding 5 years or both.

Credits

Added by Acts 1992, c. 4, § 2. Amended by Acts 1992 c. 26, § 4.
Formerly Art. 56, §§ 347, 365A.
MD Code, Business Regulation, § 14-229, MD BUS REG § 14-229
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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