§ 32 §4693 — Required disclosure

The disclosure statement must include the following information accurately, clearly and concisely stated, in a legible written document. A disclosure statement meeting the criteria of any rules or regulations of the Federal Trade Commission requiring disclosure statements by sellers fulfills the requirements of this section to the extent that the substituted disclosure statement meets or exceeds the requirements of this section:
1.
Information.
The official name, address and principal place of business of the seller and any affiliated person;
2.
Notice.
The following notice: As required by Maine law, we have secured a bond in the amount of $30,000 issued by ______________________________________ . (Name and address of surety company)
3.
Statement.
A statement describing:
4.
Statement of cost.
A statement describing and listing the cost to the purchaser of any services, supplies, products, inventories, signs, real estate, fixtures or equipment relating to the establishment or operation of the business opportunity which the purchaser is directly or indirectly required by the seller to purchase, lease or rent from any person, including a list of the names and addresses of those persons and whether they are affiliated persons;
5.
Description of services provided.
A description of the services that the seller or affiliated person provides to purchasers, including, but not limited to, a description of the services which the seller or affiliated persons provides with regard to securing retail outlets or sites for purchasers;
5-A.
Licenses and permits.
A detailed description of any licenses or permits that are necessary in order for the purchaser to engage in or operate the business opportunity.
6.
Limitations.
A statement describing whether the purchaser is:
7.
Other purchasers.
The names and last known addresses of the greater of:
8.
Statement of conditions of termination.
A statement disclosing the conditions under which the business opportunity may be terminated by either the seller or purchaser;
9.
Copy of contracts.
A copy of all contracts or agreements relating to the sale of the business opportunity;
10.
Sales.
If the seller makes or intends to make any representations, oral or written, to a prospective purchaser concerning:
11.
Trademarks of seller.
If the seller uses the trademark, service mark, trade name, 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, a statement that the owner of the commercial symbol is not involved in the sale of the business opportunity; and
12.
Notice.
The following notice:
13.
Additional information.
Any additional information that the Securities Administrator requires by rule.

Legislative History

PL 1979, c. 571 (NEW). PL 1991, c. 210, §§3-5 (AMD). RR 2009, c. 2, §89 (COR). PL 2013, c. 424, Pt. B, §11 (AMD).