Mich. Admin. Code R. 445.702 - Initial or renewal registration; filing and contents of application
Rule 702.
(1) A
franchise agent may obtain an initial or renewal registration by filing with
the administrator an application, together with a consent to service of process
on the form prescribed by the administrator. This application shall contain the
information the administrator requires relating to the following:
(a) The qualifications and business history
of the applicant and its partners, officers, directors, or other persons
occupying similar status or performing similar functions or a person, directly
or indirectly, controlling the franchise agent.
(b) The applicant's financial
condition.
(c) The applicant's
proposed form of doing business.
(d) Past misconduct on the part of the
applicant or its partners, officers, or directors.
(e) Other information necessary for the
protection of the public.
(2) An application for franchise agent
registration shall be accompanied by a complete fingerprint record of the
partners, officers, and directors of the franchise agent who shall be engaged
in offers or sales of franchises in this state, the principal officer of the
franchise agent, and the compliance officer on a form prescribed by the
administrator, unless this requirement is waived or modified by the
administrator.
Notes
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