HARRY HUGHES, Governor

2189

(4) THAT UPON PAYMENT BY THE PURCHASER OF A FEE
OR SUM OF $50 $100 TO THE SELLER, THE SELLER WILL PROVIDE A
SALES PROGRAM OR MARKETING PROGRAM WHICH WILL ENABLE THE
PURCHASER TO DERIVE INCOME FROM THE BUSINESS OPPORTUNITY
WHICH EXCEEDS THE PRICE PAID FOR THE BUSINESS OPPORTUNITY,
PROVIDED THAT THIS SUBSECTION SHALL NOT APPLY TO THE SALE OF
A MARKETING PROGRAM MADE IN CONJUNCTION WITH THE LICENSING
OF A REGISTERED TRADEMARK OR SERVICE MARK.

(C) "COMMISSIONER" MEANS THE SECURITIES COMMISSIONER
IN THE DEPARTMENT OF LAW OR THE DESIGNATED AGENT OF THE
COMMISSIONER.

(D) "CONTRACT" MEANS AN AGREEMENT FOR THE SALE OR
LEASE OF A BUSINESS OPPORTUNITY, UNLESS OTHERWISE INDICATED
BY CONTEXT.

(E) "DISCLOSURE" MEANS COMPLIANCE AND THE DOCUMENTS
REQUIRED FOR COMPLIANCE WITH § 408 OF THIS SUBTITLE.

(F) "LICENSEE" MEANS ANY PERSON OR PERSONS, CORPORATE
OR NATURAL, WHO AGREES TO PURCHASE A BUSINESS OPPORTUNITY
FOR RESALE OR THE RIGHT TO MARKET BUSINESS OPPORTUNITIES IN
A CERTAIN TERRITORY OR OTHERWISE, WHETHER DESIGNATED AS AN

INDEPENDENT CONTRACTOR, AGENT, DISTRIBUTOR, EXCLUSIVE

REPRESENTATIVE OR OTHERWISE. A LICENSEE ALSO IS A

PURCHASER.

(C) "LICENSER" MEANS ANY PERSON OR PERSONS, CORPORATE
OR NATURAL, WHO AGREES TO SELL OR OFFERS TO SELL A BUSINESS
OPPORTUNITY FOR RESALE OR THE RIGHT TO MARKET BUSINESS
OPPORTUNITIES IN A CERTAIN TERRITORY OR OTHERWISE, WHETHER
THE LICENSEE IS DESIGNATED AS AN INDEPENDENT CONTRACTOR,
AGENT, DISTRIBUTOR, EXCLUSIVE REPRESENTATIVE OR OTHERWISE.

(H) "LICENSE AGREEMENT" MEANS AN AGREEMENT BETWEEN ANY
PERSONS FOR THE SALE OF A BUSINESS OPPORTUNITY FOR RESALE OR
OF THE RIGHT TO MARKET BUSINESS OPPORTUNITIES IN A CERTAIN
TERRITORY OR OTHERWISE. FOR THE PURPOSES OF THIS SUBTITLE,
A LICENSING AGREEMENT IS A CONTRACT, AND THE PARTIES TO IT
MAY BE CONSIDERED SELLERS SUBJECT TO DUAL REGISTRATION AND
DUAL DISCLOSURE AS REQUIRED UNDER THIS SUBTITLE.

(I) "OFFER" OR "OFFER TO SELL", EXCEPT AS PROVIDED IN
§ 404 OF THIS SUBTITLE, INCLUDES EVERY ATTEMPT OR OFFER TO
DISPOSE OF OR SOLICITATION OF AN OFFER TO BUY A BUSINESS
OPPORTUNITY.

(J) "PUBLISH" MEANS PUBLICLY TO ISSUE OR CIRCULATE BY
NEWSPAPER, MAIL, RADIO, OR TELEVISION, OR OTHERWISE TO
DISSEMINATE TO OR PLACE BEFORE THE PUBLIC.

(K) "PURCHASER" MEANS A PERSON WHO AGREES TO PURCHASE
A BUSINESS OPPORTUNITY.

(L) "REGISTRATION OF AN OFFER" MEANS COMPLIANCE WITH
§§ 408, 409, AND 410 OF THIS SUBTITLE AND PAYMENT TO THE
COMMISSIONER OF ANY APPLICABLE FEES.