1. (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.
2. (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.

Added by Acts 1992, c. 4, § 2. Amended by Acts 1992, c. 26, § 4; Acts 1996, c. 517, § 1, eff. Oct. 1, 1996.

Formerly Art. 56, § 415.