2192

LAWS OF MARYLAND

Ch. 626

(4) (5) ANY OTHER SALE OR TRANSACTIONS WHICH THE
COMMISSIONER EXEMPTS BY RULE OR ORDER AS NOT BEING
COMPREHENDED WITHIN THE PURPOSES OF THIS SUBTITLE AND THE
REGISTRATION OF WHICH IS FOUND UNNECESSARY, INAPPROPRIATE,
NOT IN THE PUBLIC INTEREST, OR NOT FOR THE PROTECTION OF
INVESTORS.

405.

(A)  THE COMMISSIONER MAY MAKE, AMEND, AND RESCIND ANY
FORMS, ORDERS, AND RULES TO ENFORCE THE PROVISIONS OF THIS
SUBTITLE WHICH ARE NEEDED TO AFFECT EFFECT ITS PURPOSES.

(B) THE COMMISSIONER MAY ACCEPT, IN LIEU OF THE
REGISTRATION APPLICATION OR DISCLOSURE STATEMENT SET FORTH
IN THIS SUBTITLE, A REGISTRATION APPLICATION OR OFFERING
PROSPECTUS REQUIRED BY A FEDERAL GOVERNMENT AGENCY, THE
GOVERNMENT AGENCY OF ANOTHER STATE, OR A REGISTRATION

APPLICATION AND OFFERING PROSPECTUS APPROVED BY AN

ASSOCIATION OF THE ADMINISTRATORS OF STATE FRANCHISE LAWS
WHICH HE DETERMINES ENCOMPASSES DISCLOSURE REQUIREMENTS
SIMILAR TO THOSE CONTAINED IN THIS SUBTITLE.

(B)  IN LIEU OF THE DISCLOSURE STATEMENT REQUIRED BY
THIS SUBTITLE, A SELLER MAY UTILIZE DOCUMENTS PRESCRIBED BY
THE FEDERAL TRADE COMMISSION CONCERNING BUSINESS OPPORTUNITY
VENTURES.

(C)  COPIES OF EACH RULE MADE UNDER THIS SECTION SHALL
BE FILED FOR PUBLICATION IN THE MARYLAND REGISTER AND THE
CODE OF MARYLAND REGULATIONS IN ACCORDANCE WITH THE STATE
DOCUMENTS LAW AND SHALL BE MADE AVAILABLE TO THE PUBLIC.

406.

IN ADDITION TO ANY OTHER POWERS AND DUTIES, THE
COMMISSIONER:

(A) MAY RECEIVE AND INVESTIGATE COMPLAINTS FROM ANY
PERSON AS TO ANY POTENTIAL OR ACTUAL VIOLATION OF THIS
SUBTITLE;

(B) (A) MAY INITIATE AND CONDUCT INVESTIGATIONS WITHIN
AND OUTSIDE THIS STATE AS NEEDED:

(1)  TO DETERMINE WHETHER ANY PERSON HAS VIOLATED
OR IS VIOLATING ANY PROVISION OF THIS SUBTITLE;

(2)  TO AID IN THE PRESCRIPTION OF RULES AND
FORMS UNDER THIS SUBTITLE; OR

(3)  TO AID IN ANY OTHER WAY IN THE ENFORCEMENT
OF THIS SUBTITLE;

(C) (B) MAY CONDUCT PUBLIC HEARINGS IN CONNECTION WITH
ANY INVESTIGATION IN ACCORDANCE WITH § 407 OF THIS SUBTITLE;