§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.
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