PARRIS N. GLENDENING, Governor

Ch. 517

(II) THE PLAINTIFF'S AFFIDAVIT OF COMPLIANCE UNDER THIS
SUBSECTION IS FILED IN THE NONCRIMINAL SUIT, ACTION, OR PROCEEDING ON OR
BEFORE THE RETURN DATE OF THE PROCESS, IF ANY, OR WITHIN FURTHER TIME AS
THE COURT ALLOWS.

(D)    THE INITIAL FEE TO FILE AN APPLICATION TO REGISTER A BUSINESS
OPPORTUNITY OFFERING IS $250.

(E)     (1) A BUSINESS OPPORTUNITY OFFERING REGISTRATION BECOMES
EFFECTIVE AT MIDNIGHT ON THE 10TH BUSINESS DAY AFTER THE DAY ON WHICH
THE SELLER FILES ALL REQUIRED DOCUMENTS FOR REGISTRATION, PROVIDED
THAT NO ORDER HAS BEEN PASSED OR PROCEEDING IS PENDING UNDER § 14-119.1
OF THIS SUBTITLE

(2) BY ORDER, THE COMMISSIONER:

(I)      MAY WAIVE OR REDUCE THE TIME PERIOD BETWEEN THE
DATE OF THE FILING AND THE DATE THAT THE REGISTRATION IS EFFECTIVE IF THE
SELLER HAS FILED ALL REQUIRED DOCUMENTS FOR REGISTRATION; OR

(II)     MAY POSTPONE THE DATE THAT THE REGISTRATION
BECOMES EFFECTIVE AT MIDNIGHT ON THE 10TH BUSINESS DAY AFTER THE DAY ON
WHICH THE SELLER FILES AN AMENDMENT TO THE REGISTRATION.

(F)     THE REGISTRATION IS EFFECTIVE FOR 1 YEAR FROM THE DATE OF
EFFECTIVENESS.

(G)    (1) THE REGISTRATION MAY BE RENEWED ANNUALLY UPON THE
FILING OF A CURRENT DISCLOSURE DOCUMENT ALONG WITH ANY OTHER
DOCUMENTS OR INFORMATION THAT THE COMMISSIONER MAY REQUIRE BY
ORDER OR REGULATION.

(2) IF NOT RENEWED IN ACCORDANCE WITH PARAGRAPH (1) OF THIS
SUBSECTION, A REGISTRATION EXPIRES 1 YEAR AFTER THE DAY ON WHICH IT
BECOMES EFFECTIVE.

(H) THE COMMISSIONER MAY BY REGULATION REQUIRE THE FILING OF ALL
PROPOSED LITERATURE OR ADVERTISING PRIOR TO ITS USE.

(I) (H) THE COMMISSIONER MAY BY REGULATION REQUIRE THE FILING OF
SALES REPORTS.

14-114.

(a) [A disclosure statement shall be prepared in the form that the Commissioner
requires.] A PERSON MAY NOT SELL OR OFFER TO SELL A BUSINESS OPPORTUNITY
UNLESS A WRITTEN DISCLOSURE DOCUMENT, FILED UNDER § 14-113.1(A) OF THIS
SUBTITLE, IS DELIVERED TO THE BUYER AT LEAST 10 FULL BUSINESS DAYS BEFORE
THE BUYER EXECUTES A CONTRACT OR AN AGREEMENT THAT IMPOSES A BINDING
LEGAL OBLIGATION ON THE BUYER OR THE PAYMENT BY A BUYER OF ANY
CONSIDERATION IN CONNECTION WITH THE SALE OR OFFER TO SELL A BUSINESS
OPPORTUNITY.

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