Mich. Admin. Code R. 445.608 - Franchise compliance officer
Rule 608.
(1) A
franchisor, subfranchisor, or franchise agent employing franchise agents shall
designate a franchise compliance officer, whose responsibility it shall be to:
(a) Determine that the activities of its
franchise agents are in compliance with the statutes and rules of the
state.
(b) Prepare and forward to
the administrator a compliance manual which shall thereafter be distributed to
each franchise agent.
(c) Insure
that each agent is at all times familiar with the act and rules thereunder, and
the compliance manual.
(2) The compliance manual shall consist of a
copy of the act, rules, and instructions necessary to relate the statutes and
rules to the franchise being offered and the procedures of the
offering.
(3) Should an agent be
terminated by a franchisor, or voluntarily terminate his employment due to
actions involving a violation of the franchise investment law or rules
thereunder, the franchise compliance officer shall promptly report the
termination and the cause therefor on the form prescribed by the
administrator.
Notes
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