(a) A person who sells a business opportunity may not, in a disclosure statement or amendment to it, willfully make a false or misleading statement of a material fact or willfully omit to state a material fact required or necessary to make the statements in a disclosure statement not misleading.
(b) A person who violates this section is guilty of a felony and, on conviction, is subject for each violation to a fine not exceeding $10,000 or imprisonment not exceeding 5 years or both.
Structure Maryland Statutes
Title 14 - Business Opportunities, Franchises, and Multilevel Distribution Companies
Subtitle 1 - Business Opportunities
Section 14-102 - Legislative Policy
Section 14-103 - Scope of Subtitle
Section 14-106 - Orders, Regulations, and Forms
Section 14-107 - Publication of Information
Section 14-108 - Investigations
Section 14-110 - Civil Enforcement of Subtitle
Section 14-111 - Miscellaneous Powers
Section 14-112 - Privilege Against Self-Incrimination
Section 14-113 - Registration of Business Opportunity Required
Section 14-113.1 - Registration of Business Opportunity
Section 14-114 - Disclosure Statement
Section 14-115 - Bond or Trust Account
Section 14-116 - Amendments to Documents
Section 14-118 - Contracts for the Sale of Business Opportunities
Section 14-119 - Denial of Effectiveness to Registration, Suspension, or Revocation of Registrations
Section 14-120 - Untrue Statements or Omissions of Material Facts
Section 14-121 - Fraud or Deceit
Section 14-122 - Representations of Income or Earning Potential
Section 14-123 - Use of Commercial Symbol
Section 14-124 - Reference to Compliance
Section 14-125 - Failure to Deliver Products, Equipment, or Supplies
Section 14-126 - Remedies for Violation
Section 14-127 - False or Misleading Statement or Omission of Material Fact