1. A. Records to Be Maintained. A franchisor offering or selling a franchise in the State shall maintain complete and accurate records of offers and sales of franchises, including but not limited to:

   1. (1) Offering circulars;
   2. (2) Advertising;
   3. (3) Correspondence with franchisees and prospective franchisees;
   4. (4) Past and present operations manuals;
   5. (5) Training records;
   6. (6) Training manuals; and
   7. (7) Copies of executed agreements.
2. B. Form of Records. The records may be maintained on photographic or electronic media, but shall be printed if the Commissioner so orders.
3. C. Retention Schedule. The records described in §A of this regulation shall be maintained at an office readily accessible to the franchisor for 5 years.
4. D. Inspection of Records. The Commissioner or the Commissioner's designated representatives shall have access to the records described in §A of this regulation at any time, upon reasonable request during business hours, in order to conduct such examinations as the Commissioner considers necessary or appropriate in the public interest or for the protection of prospective franchisees.
5. E. Other Investigative Powers. Nothing in this regulation is intended to limit the investigative powers of the Commissioner.

Authority: Business Regulation Article, §14-206, Annotated Code of Maryland

Effective date:

Regulations .01—.08 adopted as an emergency provision effective December 2, 1977 (4:26 Md. R. 2005); emergency status extended at 5:8 Md. R. 587

Regulations .01—.08 adopted effective May 5, 1978 (5:9 Md. R. 683) (Recodified from COMAR 02.02.04 to 02.02.10)

Regulations .02—.08 recodified to Regulations .02—.12 and amended effective May 19, 1986 (13:10 Md. R. 1154)

Regulation .02C amended effective October 29, 1990 (17:21 Md. R. 2525)

Regulation .04 amended effective October 29, 1990 (17:21 Md. R. 2525)

Regulation .10A amended and .10B adopted effective October 29, 1990 (17:21 Md. R. 2525)

Regulation .12B amended effective October 29, 1990 (17:21 Md. R. 2525)

Regulation .13 adopted effective April 15, 1991 (18:7 Md. R. 770)

Regulations .01—.13 under COMAR 02.02.10 repealed effective January 17, 1994 (21:1 Md. R. 27)

Regulations .01—.17 adopted effective January 17, 1994 (21:1 Md. R. 27)

Regulation .01B amended effective May 23, 1994 (21:10 Md. R. 840)

Regulation .04A amended and C adopted effective May 23, 1994 (21:10 Md. R. 840)

Regulation .10G amended effective May 23, 1994 (21:10 Md. R. 840)

Chapter revised effective December 18, 1995 (22:25 Md. R. 1960)

Regulation .04B amended effective June 29, 1998 (25:13 Md. R. 992)

Regulation .08F amended effective June 29, 1998 (25:13 Md. R. 992)

Regulation .09B amended effective June 29, 1998 (25:13 Md. R. 992)

Regulation .10B, D, H amended effective June 29, 1998 (25:13 Md. R. 992)

Regulation .11 amended effective June 29, 1998 (25:13 Md. R. 992)

Regulation .18 adopted effective June 29, 1998 (25:13 Md. R. 992)