13-15-203. Disclosure statement furnished to purchaser -- Additional nondeceptive information permitted.
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Effective 5/4/2022
13-15-203. Disclosure statement furnished to purchaser -- Additional nondeceptive information permitted.
(1)A seller shall provide the disclosure statement described under Section 13-15-202 to a prospective purchaser at least 10 business days before the day on which the earlier of the following occurs:
(a)the prospective purchaser executes an agreement imposing a binding legal obligation on the prospective purchaser in connection with the seller's sale or proposed sale of a business opportunity; or
(b)the prospective purchaser makes a payment or provides consideration in connection with the seller's sale or proposed sale of a product or business opportunity.
(2)A seller may provide a prospective purchaser nondeceptive information apart from the disclosure statement described in Section 13-15-202 , if the information does not contradict the information required in the disclosure statement.
Renumbered and Amended by Chapter 243 , 2022 General Session