1. (a) The General Assembly finds that:

   1. (1) the widespread sale of franchises has created many investment and business problems; and

   2. (2) franchisees have suffered substantial losses when the franchisor or its representative has not given complete information about:

      1. (i) the franchisor-franchisee relationship;
      2. (ii) the franchise agreement; and
      3. (iii) the business experience of the franchisor or its representative.

2. (b) The intent of this subtitle is to:

   1. (1) give each prospective franchisee necessary information about any franchise offer;
   2. (2) prohibit the sale of franchises if the sale would lead to fraud or a likelihood that the franchisor's representations would not be fulfilled; and
   3. (3) protect the franchisor-franchisee relationship.

Added by Acts 1992, c. 4, § 2.

Formerly Art. 56, § 346.