Maine Revised Statutes Title 32 Sec. 4692 – When disclosure statement must be provided
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Terms Used In Maine Revised Statutes Title 32 Sec. 4692
- Business opportunity: means :
A. See Maine Revised Statutes Title 32 Sec. 4691Purchaser: means a person who purchases, leases or communicates with a seller concerning the purchase or lease of a business opportunity. See Maine Revised Statutes Title 32 Sec. 4691 Seller: means a person who sells, leases or distributes or offers to sell, lease or distribute, advertises or undertakes any other act relating to the promotion of business opportunities. See Maine Revised Statutes Title 32 Sec. 4691
Seller shall provide all purchasers with a disclosure statement meeting the requirements of this chapter at the earliest of: at least 72 hours before the purchaser signs a business opportunity agreement; at least 72 hours before the purchaser makes payment of any consideration in connection with the sales or proposed sale of the business opportunity; or the first face-to-face meeting between the seller and the purchaser that is held for the purpose of discussing the sale or proposed sale of a business opportunity. [PL 1991, c. 210, §2 (AMD).]
SECTION HISTORY
PL 1979, c. 571 (NEW). PL 1991, c. 210, §2 (AMD).