Michigan Compiled Laws
Act 269 of 1974 - Franchise Investment Law (445.1501 - 445.1546)
Section 445.1521 - Certain Facts Not to Constitute Finding or Approval; Representation Inconsistent With Section Prohibited.

Sec. 21.
(1) The fact that documents required under this act are filed does not constitute a finding by the department that a document filed under this act is true, complete, or not misleading. Neither any such fact nor the fact that an exemption is available for a transaction means that the department has passed in any way upon the merits or qualifications of, or recommended or given approval to, any persons, franchise, or transaction.
(2) A person shall not make or cause to be made to a prospective purchaser or offeree a representation inconsistent with this section.
History: 1974, Act 269, Eff. Oct. 15, 1974 ;-- Am. 1984, Act 92, Eff. June 20, 1984

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 445 - Trade and Commerce

Act 269 of 1974 - Franchise Investment Law (445.1501 - 445.1546)

Section 445.1501 - Short Title; Construction.

Section 445.1502 - Definitions.

Section 445.1503 - Additional Definitions; Burden of Proof.

Section 445.1504 - Arrangements Between Franchisor and Franchisee to Which Act Applicable; Making Offer or Sale of Franchise in State; Accepting Offer to Sell in State; Communication of Acceptance.

Section 445.1504a - Applicability of Act.

Section 445.1504b - Franchisee as Sole Employer.

Section 445.1505 - Prohibited Conduct in Connection With Offer, Sale, or Purchase of Franchise.

Section 445.1505a - Franchise Opportunities Handbook.

Section 445.1506 - Exemption of Offer and Sale of Franchise From MCL 445.1507a and 445.1508; Circumstances; Compliance With MCL 445.1508.

Section 445.1507 - Repealed. 1984, Act 92, Eff. June 20, 1984.

Section 445.1507a - Notice Required Prior to Offering for Sale or Selling Franchise; Fee; Form and Contents of Notice; Indorsement, Return, and Duration of Notice; Effect of Compliance; Penalty for Failure to File Notice; Duty of Franchisor With Effe...

Section 445.1508 - Prospective Franchisee to Be Provided Copy of Disclosure Statement, Notice, and Proposed Agreements; Form and Contents of Disclosure Statement; Location and Contents of Notice.

Section 445.1509-445.1511 - Repealed. 1984, Act 92, Eff. June 20, 1984.

Section 445.1512 - Escrow of Initial Investment and Other Funds; Time; Surety Bond; Financial Institution as Escrow Agent; Release of Escrowed Funds; Affidavit.

Section 445.1513 - Conditions Prohibiting Offering for Sale or Selling Franchise.

Section 445.1514-445.1518 - Repealed. 1984, Act 92, Eff. June 20, 1984.

Section 445.1519 - Filing Change in Information Contained in Notice.

Section 445.1520 - Accounts of Franchise Sales; Reports; Examination of Records.

Section 445.1521 - Certain Facts Not to Constitute Finding or Approval; Representation Inconsistent With Section Prohibited.

Section 445.1522 - Service of Process.

Section 445.1523 - Untrue Statement, Omission, or Failure to Give Notice of Change.

Section 445.1524 - Filing of Advertisement or Sales Literature; Exemption From Liability.

Section 445.1525 - Publication of False or Misleading Advertisement Prohibited.

Section 445.1526 - Repealed. 1984, Act 92, Eff. June 20, 1984.

Section 445.1527 - Void and Unenforceable Provisions.

Section 445.1528 - Pyramid.

Section 445.1529, 445.1530 - Repealed. 1984, Act 92, Eff. June 20, 1984.

Section 445.1531 - Liability for Damages or Rescission; Basis of Damages.

Section 445.1532 - Joint and Several Liability.

Section 445.1533 - Statute of Limitations.

Section 445.1534 - Civil Liability; Liability Under Other Statute or Common Law.

Section 445.1535 - Action by Department for Injunction, Restitution, or Compliance; Restraining Order; Writ of Mandamus; Appointment of Receiver or Conservator; Bond Not Required; Costs; Notice of Action; Opportunity to Cease and Desist or to Confer...

Section 445.1536 - Investigations; Statements Under Oath; Administration of Oaths and Affirmations; Subpoena; Evidence; Order Requiring Appearance; Self-Incrimination; Perjury; Contempt.

Section 445.1537 - Repealed. 1984, Act 92, Eff. June 20, 1984.

Section 445.1538 - Violation; Penalty; Punishing Crime Under Other Statute.

Section 445.1539 - Prohibited Conduct Equivalent to Appointment of Corporations and Securities Bureau as Attorney for Service of Process; Procedure for Service of Process.

Section 445.1540 - Collection and Disposition of Fees and Fines; Detailed Statement; Fee for Filing Notice Under MCL 445.1507a.

Section 445.1541 - Rules.

Section 445.1542 - Documents Subject to MCL 15.231 to 15.246; Publication of Information; Disclosure of Information Withheld From Public Inspection; Evidence Sought Under Subpoena.

Section 445.1543-445.1545 - Repealed. 1984, Act 92, Eff. June 20, 1984.

Section 445.1546 - Prior Acts, Offenses, Rights, Liabilities, Penalties, Forfeiture, or Punishments Not Impaired or Affected; Transfer of Records, Personnel, and Funds.