§482E-1  Purpose and intent.  (a)  The
purpose of this chapter is to regulate the sale of franchises in the State to
minimize losses to the franchisee in cases where the franchisor or the
franchisor's representative has not provided full and complete information
regarding:



(1)  The franchisor-franchisee relationship;



(2)  The details of the contract between the
franchisor and franchisee; and



(3)  The prior business experience of the franchisor.



(b)  It is the intent of the legislature to:



(1)  Provide each prospective franchisee with the
information necessary to make an intelligent decision regarding franchises
being offered;



(2)  Prohibit the sale of franchises that would lead
to fraud or a likelihood that the franchisor's promises would not be fulfilled;
and



(3)  Protect the franchisor or subfranchisor by
providing a better understanding of the relationship between the franchisor or
subfranchisor and the franchisee with regard to their business relationship. [L
1974, c 18, pt of §1; gen ch 1985; am L 2008, c 19, §46]