445.903b Failure of seller to file notice unlawful; form and contents of notice; notice of change in information; reference to MCL 445.903 includes reference to this sect
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445.903b Failure of seller to file notice unlawful; form and contents of notice; notice of change in information; reference to MCL 445.903 includes reference to this section.
Sec. 3b.
(1)In addition to the unfair, unconscionable, or deceptive methods, acts, or practices in the conduct of trade or commerce defined in section 3, it is unlawful for the seller of a business opportunity to fail to file a notice with the attorney general on or before the first sale of a business opportunity in this state if the purchaser pays more than $500.00 in total for the business opportunity from anytime before the date of sale to anytime within 6 months after the date of sale. The form of the notice shall be prescribed by the attorney general. The attorney general shall not require the seller to file more than the following information:
(a)The name of the seller.
(b)The name under which the seller intends to do business.
(c)The seller's principal business address.
(d)If the seller is not domiciled in Michigan, a consent to service of process.
(2)The seller shall immediately notify the attorney general of a change in the information contained in the notice.
(3)A reference to section 3 in this act shall be considered to include a reference to this section.
History: Add. 1984, Act 91, Imd. Eff. Apr. 20, 1984