Ch. 517

1996 LAWS OF MARYLAND

(b)     The disclosure statement shall include a cover sheet that contains only:

(1)     a heading, in boldface capital letters in 10-point or larger type, that
states "disclosure required by Maryland law";

(2)     under the heading, in 10-point or larger type, the following statement:
"The State of Maryland has not reviewed and does not approve, recommend, endorse, or
sponsor any business opportunity. The information in this disclosure statement has not
been verified.by the State. If you have any questions about this investment, see an
attorney before you sign a contract or contact the Division of Securities in the Office of
the Attorney General. YOU ARE TO BE GIVEN 10 BUSINESS DAYS TO REVIEW THIS
DOCUMENT BEFORE SIGNING ANY CONTRACT OR AGREEMENT OR MAKING ANY
PAYMENT TO THE SELLER OR THE SELLER'S REPRESENTATIVE."; and

(3)     the current address and telephone number of the Division of Securities.

(c)     After the cover sheet, the disclosure statement shall include the following
information:

(1)     the name and address of the seller;

(2)     whether the seller is doing business as an individual, partnership, or
corporation;                                                                                             

(3)     the names under which the seller has done, is doing, or intends to do
business;

(4)     the name of any parent or affiliated company that will engage in business
transactions with buyers or that takes responsibility for statements of the seller;

(5)     the name, address, and title of each of the seller's officers, directors,
trustees, general partners, general managers, principal executives, and others responsible
for the seller's activities that relate to the sale of business opportunities;

(6)     [the length of time the seller has sold business opportunities] THE
NAMES AND RESIDENTIAL ADDRESSES OF THE SALESPERSONS WHO ENGAGE IN THE
SALE OR OFFER TO SELL A BUSINESS OPPORTUNITY IN THE STATE;

(7)     [the length of time the seller has sold business opportunities that
involve the products, equipment, supplies, or services that the seller currently is offering
to the buyer;] PRIOR BUSINESS EXPERIENCE OF THE SELLER RELATING TO BUSINESS
OPPORTUNITIES, INCLUDING:

(I) THE NAME, ADDRESS, AND A DESCRIPTION OF ANY BUSINESS
OPPORTUNITY PREVIOUSLY OFFERED BY THE SELLER;

(II) THE LENGTH OF TIME THE SELLER HAS OFFERED EACH
BUSINESS OPPORTUNITY; AND

(III) THE LENGTH OF TIME THE SELLER HAS CONDUCTED THE
BUSINESS OPPORTUNITY CURRENTLY BEING OFFERED TO THE BUYER;

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