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Session Laws, 1996
Volume 794, Page 3996   View pdf image
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S.B. 380

VETOES

Parris N. Glendening
Governor

Senate Bill No. 380

AN ACT concerning

Maryland Business Opportunities Sales Act - Revision

FOR the purpose of expanding the definition of a business opportunity under the
Maryland Business Opportunities Sales Act; altering the applicability of the
Maryland Business Opportunities Sales Act; requiring the Maryland Securities
Commissioner to follow certain procedures when passing certain summary and final
orders; providing exceptions to those procedures; expanding the remedies available
to the Maryland Securities Commissioner when a provision of the Maryland
Business Opportunities Sales Act has been violated or is about to be violated; altering
the authority of the Commissioner to pass certain summary and final orders, altering
registration requirements for sellers of business opportunities; requiring certain
renewals for registrations altering certain renewal requirements for sellers of business
opportunities; providing procedures for the renewal of registrations; authorizing the
Maryland Securities Commissioner to require the filing of certain documents
associated with the sale of business opportunities; authorizing the Maryland
Securities Commissioner under certain circumstances to pass certain orders to
suspend or revoke the effectiveness of certain registrations, amendments to
registrations, or required reports; , revoke, or deny the effectiveness of certain
registrations; altering certain requirements relating to the provision of a certain
disclosure document by a seller to a prospective buyer; allowing a prospective buyer
a certain amount of time to review a certain disclosure document before signing a
certain contract or agreement; expanding the types of information that a seller must
include in a certain disclosure document; defining a certain term; and generally
relating to the Maryland Business Opportunities Sales Act.

BY repealing and reenacting, with amendments,
Article - Business Regulation

Section 14-101, 14-103, 14-104, 14-114, 14-117, and 14-118 14-119
Annotated Code of Maryland
(1992 Volume and 1995 Supplement)

BY repealing and reenacting, without amendments,
Article - Business Regulation
Section 14-102, 14-105 through 14-109, 14-111, 14-112, 14-115, 14-116, 14-119,

and 14-120 through 14-129
Annotated Code of Maryland
(1992 Volume and 1995 Supplement)

BY repealing

Article - Business Regulation

- 3996 -

 

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Session Laws, 1996
Volume 794, Page 3996   View pdf image
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