Amendments to the State of Maryland's Franchise Registration and Disclosure Law are set to go into effect on October 1, 2010. These amendments make delivery requirements under this law consistent with the FTC's Amended Franchise Rule. The new law does away with the first personal meeting requirement, and franchisors will be required to deliver a disclosure document 14 calendar days before the prospective franchisee's execution of an agreement or payment of consideration, or upon the reasonable request by a prospective franchisee.
By now, our clients should have received from us the required updates to their Franchise Disclosure Document as a result of these amendments.
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