Section 445.608. Franchise compliance officer.

(1) A franchisor, subfranchisor, or franchise agent employing franchise agents shall designate a  franchise   compliance  officer,  whose responsibility it shall be to:

(a)  Determine that the  activities  of   its  franchise  agents  are  in compliance with the statutes and rules of the state.

(b)   Prepare and forward to the administrator a compliance manual which shall thereafter be distributed to each franchise agent.

(c)    Insure that each agent is at all times familiar with the act and rules thereunder, and the compliance manual.

(2)     The compliance manual shall consist of a copy of the act, rules,  and instructions necessary to relate the statutes and rules to  the  franchise being offered and the procedures of the offering.

(3)  Should an agent be terminated by a franchisor, or voluntarily terminate his employment due to actions involving a violation   of  the franchise investment law or rules thereunder, the franchise   compliance  officer  shall   promptly report  the termination and the   cause  therefor  on the form prescribed by the administrator.

History: 1979 AC.