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LAWS OF MARYLAND

Ch. 626

(A)  MAKE ANY 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;

(B)  ENGAGE IN ANY ACT, PRACTICE, OR COURSE OF BUSINESS
OR EMPLOY ANY DEVICE, SCHEME, OR ARTIFICE TO DEFRAUD WHICH
OPERATES OR WOULD OPERATE AS A FRAUD OR DECEIT UPON ANY
PERSON;

(C) MAKE OR CAUSE TO BE MADE ANY UNTRUE STATEMENT OF A

MATERIAL FACT IN ANY APPLICATION FOR REGISTRATION OR

APPLICATIONS TO AMEND REGISTRATION, RENEWAL STATEMENT,

NOTICE, OR REPORT FILED WITH THE COMMISSIONER UNDER THIS

SUBTITLE; OMIT TO STATE IN ANY APPLICATION, RENEWAL

STATEMENT, NOTICE, OR REPORT FILED WITH THE COMMISSIONER
UNDER THIS SUBTITLE ANY MATERIAL FACT; FAIL TO PROMPTLY
NOTIFY THE COMMISSIONER OF ANY MATERIAL CHANGE; OR OTHERWISE
FAIL TO MEET REQUIREMENTS FOR THE REGISTRATION OF AN OFFER
ESTABLISHED BY SECTION 410 OF THIS SUBTITLE;

(D) OFFER TO SELL OR SELL ANY BUSINESS OPPORTUNITY
WITHOUT USE OF A WRITTEN CONTRACT AS REQUIRED BY § 411 OF
THIS SUBTITLE;

(E) (C) REPRESENT THAT THE BUSINESS OPPORTUNITY
PROVIDES INCOME OR EARNING POTENTIAL OF ANY KIND UNLESS THE
SELLER HAS DOCUMENTED DATA TO SUBSTANTIATE THE CLAIMS OF
INCOME OR EARNING POTENTIAL AND DISCLOSES THIS DATA TO THE
PROSPECTIVE PURCHASER AT THE TIME SUCH REPRESENTATIONS ARE
MADE;

(F) (D) USE THE TRADEMARK, SERVICE MARK, TRADE NAMES,
LOGOTYPE, ADVERTISING OR OTHER COMMERCIAL SYMBOL OF ANY
BUSINESS WHICH DOES NOT EITHER CONTROL THE OWNERSHIP
INTEREST IN THE SELLER OR ACCEPT RESPONSIBILITY FOR ALL
REPRESENTATIONS MADE BY THE SELLER IN REGARD TO THE BUSINESS
OPPORTUNITY, UNLESS IT IS CLEAR FROM THE CIRCUMSTANCES THAT
THE OWNER OF THE COMMERCIAL SYMBOL IS NOT INVOLVED IN THE
SALE OF THE BUSINESS OPPORTUNITY;

(G) (E) MAKE OR AUTHORIZE THE MAKING OF ANY REFERENCE
TO ITS COMPLIANCE WITH THIS SUBTITLE IN ANY ADVERTISEMENT OR
OTHER CONTACT WITH PROSPECTIVE PURCHASERS OTHER THAN BY USE
OF THE DISCLOSURE STATEMENT REQUIRED BY § 408 OF THIS
SUBTITLE;

(H) (F) FAIL TO DELIVER ANY EQUIPMENT, SUPPLIES, OR
PRODUCT NECESSARY TO BEGIN SUBSTANTIAL OPERATION OF THE
BUSINESS WITHIN 45 DAYS OF THE DELIVERY DATE STATED IN THE
CONTRACT UNLESS THE COMMISSIONER OR THE COURT IN A CIVIL
PROCEEDING, OTHER THAN AN ADMINISTRATIVE APPEAL OF THIS
DETERMINATION BY THE COMMISSIONER, DETERMINES THAT THIS
FAILURE IS DUE TO CONDITIONS INCLUDED IN SECTION 2-615 OF
THE COMMERCIAL LAW ARTICLE OF THIS CODE; OR