Sec. 4. (a) Before placing any advertisement or making any other representations to any investor in Indiana, the seller shall:

(1) file a copy of the disclosure statement required by section 2 of this chapter and the bond required by section 3 of this chapter with the consumer protection division of the office of the attorney general; and

contract signature

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Terms Used In Indiana Code 24-5-8-4

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
  • Business opportunity: means an investment that:

    Indiana Code 24-5-8-1

  • in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
  • Investor: means a person who is solicited to become obligated or does become obligated on a contract. See Indiana Code 24-5-8-1
  • Seller: means a person, or his agent, who sells or leases or offers to sell or lease a business opportunity. See Indiana Code 24-5-8-1
(2) pay an initial filing fee of fifty dollars ($50).

     (b) The seller shall amend these filings when any material change in the information occurs and shall pay a fee of ten dollars ($10) for filing the amendment.

     (c) If the seller continues to solicit business opportunities in Indiana, he shall pay annually a renewal fee of ten dollars ($10) on or before the anniversary date of the initial filing for the particular business opportunity.

     (d) The director of the consumer protection division of the office of the attorney general or his designate shall maintain a record of all filings made under this chapter and shall assign a registration number to each of them. The seller shall be advised in writing of the assigned number. Any advertisements, pamphlets, brochures, or any other materials used in the solicitation of a business opportunity must include the assigned registration number in the following manner: “C.P.D. Reg. No. ____ .”.

As added by P.L.134-1984, SEC.1.

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