1. (a) Except as otherwise provided in this section, an applicant for registration shall:

   1. (1) file with the Commissioner:

      1. (i) an application in the form that the Commissioner requires; and
      2. (ii) a prospectus for the franchise; and
   2. (2) pay an application fee of $500.

2. (b) Instead of the application for registration and prospectus described in subsection (a) of this section, the Commissioner may accept an application for registration and prospectus that:

   1. (1) are found by the Commissioner to include disclosure requirements similar to those of this subtitle; and

   2. (2) are:

      1. (i) required by a unit of the federal government or another state government; or
      2. (ii) approved by an association of administrators of state franchise laws.
3. (c) The applicant shall sign and verify the application for registration.

Added by Acts 1992, c. 4, § 2. Amended by Acts 1992 c. 26 § 4.

Formerly Art. 56, §§ 349, 350, 352.