13 CRR-NY 200.4NY-CRR
13 CRR-NY 200.4
13 CRR-NY 200.4
200.4 Rules concerning denial, suspension or revocation of franchise sales agent registrations.
(a) The department may deny, suspend or revoke a franchise sales agent's registration upon a finding by the department that the agent has:
(1) made an untrue statement of a material fact in any application, notice, prospectus or report or statement filed with the department under article 33 of the General Business Law;
(2) willfully omitted to state, in any such application, notice, statement, prospectus or report, any material fact which is required to be stated herein, or failed to notify the department of any material change required by article 33 of the General Business Law;
(3) employed any device, scheme or artifice to defraud in the offer or sale of franchises;
(4) made any untrue statement of material fact or omitted to state a material fact necessary in order to have made the statement made, in the light of the circumstances under which they were made, not misleading in the offer or sale of franchises;
(5) engaged in any act, practice or course of business which operates or would operate as a fraud or deceit upon any person in the offer or sale of franchises;
(6) violated any provision of article 33 of the General Business Law or any condition of the effectiveness of the registration of an offering prospectus or of any exemption from the registration provisions of article 33 of the General Business Law; or
(7) required a franchisee to assent to a release, assignment, vacation, waiver or estoppel which would relieve a person from any duty or liability imposed by this Part.
(b) The department may deny, suspend or revoke a franchise sales agent's registration if any court or regulatory body has made a final decision or judgment that the registrant has been guilty of fraudulent conduct.
(c) No finding shall be made hereunder except after a hearing pursuant to the procedures set forth in State Administrative Procedure Act article 3.
13 CRR-NY 200.4
Current through July 31, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.