HARRY HUGHES, Governor                              2199

(A)  PRIOR TO PLACING ANY ADVERTISEMENT OR MAKING ANY
OTHER REPRESENTATIONS TO ANY PROSPECTIVE PURCHASER IN THIS
STATE, THE SELLER OF A BUSINESS OPPORTUNITY SHALL FILE WITH
THE COMMISSIONER A COPY OF THE DISCLOSURE STATEMENT REQUIRED
BY § 408 OF THIS SUBTITLE, TOGETHER WITH THE BOND OR A COPY
OF THE FORMAL NOTIFICATION BY THE DEPOSITORY AS TO ANY TRUST
ACCOUNT REQUIRED BY § 409 OF THIS SUBTITLE, AND PAY THE
APPLICABLE FEE.

(B)  THE SELLER SHALL AMEND THESE FILINGS AS ANY
MATERIAL CHANGE IN THE REQUIRED INFORMATION OCCURS BUT NOT
LESS THAN ANNUALLY.

(C) (1) THE FEE FOR AN INITIAL FILING FOR THE SALE OF
A BUSINESS OPPORTUNITY IS $250

(2)  THE FEE FOR FILING AN AMENDMENT REFLECTING A
MATERIAL CHANGE OF A FILING IS $50.

(3)  THE FEE FOR ANNUAL RENEWAL OF A FILING IS
$100

(D) IF A STOP ORDER IS NOT IN EFFECT UNDER THIS
SUBTITLE, REGISTRATION OF THE OFFER AUTOMATICALLY BECOMES
EFFECTIVE AT 12 NOON OF THE THIRTIETH BUSINESS DAY AFTER THE
FILING OF THE APPLICATION FOR REGISTRATION OR THE LAST
AMENDMENT TO IT, OR AT AN EARLIER TIME AS THE COMMISSIONER
DETERMINES.

411.

(A)  EVERY CONTRACT FOR THE SALE OF A BUSINESS
OPPORTUNITY SHALL BE IN WRITING AND A COPY SHALL BE GIVEN TO
THE PURCHASER AT THE TIME THE PURCHASER SIGNS THE CONTRACT.

(B)  EVERY CONTRACT FOR THE SALE OF A BUSINESS
OPPORTUNITY SHALL INCLUDE THE FOLLOWING:

(1)  THE TERMS AND CONDITIONS OF PAYMENT;

(2)  A FULL AND DETAILED DESCRIPTION OF THE ACTS
OR SERVICES THAT THE BUSINESS OPPORTUNITY SELLER UNDERTAKES
TO PERFORM FOR THE PURCHASER.

(3)  THE SELLER'S PRINCIPAL BUSINESS ADDRESS AND
THE NAME AND ADDRESS OF ITS AGENT IN THE STATE OF MARYLAND
AUTHORIZED TO RECEIVE SERVICE OF PROCESS; AND

(4)  THE APPROXIMATE DELIVERY DATE OF ANY
PRODUCTS, EQUIPMENT, OR SUPPLIES THE BUSINESS OPPORTUNITY
SELLER IS TO DELIVER TO THE PURCHASER.

412.

IN CONNECTION WITH THE OFFER OR SALE OF ANY BUSINESS
OPPORTUNITY, A PERSON MAY NOT