Section 445.403. Reports to be filed.

(1) Franchisors, directly or indirectly offering to sell or selling franchises in this state under section 6(2)(a) or (b) of the act, shall file with the administrator, within a period of 120  days  from   the

last day of its fiscal year, a copy of their annual report, if any, and an audited certified financial statement   or  unaudited   financial  statement prepared  by  a certified  public   accountant  if  the   requirement   for submission of an audited financial  statement  has  been  waived  by  the administrator.

(2) A franchisor, directly or indirectly offering  to  sell  or   selling franchises in this state under section 6(2)(a), (b), or (j) of the act, shall file with the administrator, within a period of 120  days  from    the last day of its fiscal year, graphic representations of  the    geographical locations sold to the franchisees in the state in the last fiscal year.

History: 1979 AC.