§482E-4  Exemptions.  (a)  Sections
482E-3, 482E-5(a) and 482E-5(c) shall not apply to:



(1)  Any transaction by an executor, administrator,
sheriff, marshal, receiver, trustee in bankruptcy, guardian, or conservator.



(2)  Any offer or sale to a bank, savings institution,
trust company, insurance company, investment company as defined in the
Investment Company Act of 1940, pension or profit sharing trust, or other
financial institution or institutional buyer or to a broker dealer where the
purchaser is acting for itself or in some fiduciary capacity.



(3)  Any motor vehicle franchise subject to chapter
437.



(4)  The offer or sale to a franchisee or prospective
franchisee where the franchisee or prospective franchisee is not domiciled in
this State and where the franchise business will not be operated in this State.



(5)  The extension or renewal of an existing franchise
or the exchange or substitution of a modified or amended franchise agreement or
the transfer of the location of a franchise where there is no interruption in
the operation of the franchise business of the franchisee, and no material
change in the franchise relationship.



(6)  The offer or sale of an additional franchise to
an existing franchisee of the same franchisor.



(7)  The offer or sale of a franchise by a franchisee
for the franchisee's own account, or the issuance of a new franchise agreement
pursuant to a sale by a franchisee for the franchisee's own account, if the
sale is an isolated sale and not part of a plan of distribution of franchises.



(b)  The director may by rule or order exempt
from sections 482E-3, 482E-5(a) and 482E-5(c) in whole or in part, any
transaction or person, firm, corporation, or industry.  In determining whether
such exemption shall issue, the director shall consider whether information
which would be required to be disclosed would be material in determining
whether the prospective franchise has a reasonable chance of success and
whether the exemption is in the public interest. [L 1974, c 18, pt of §1; am L 1976,
c 200, pt of §1; am L 1978, c 242, §5; gen ch 1985; am L 1989, c 211, §10; am L
1990, c 281, §11]



 



Cross References



 



  Sheriff, etc., see §26-14.6.