Section 445.702. Initial or renewal registration; filing and contents of application.

(1) A  franchise   agent  may  obtain   an  initial  or   renewal registration by filing with the  administrator   an   application,   together with a consent to service  of

process   on    the   form     prescribed       by     the administrator.   This   application   shall contain   the                   information    the administrator requires relating to the following:

(a)   The qualifications and business history of the applicant and its partners, officers, directors, or other persons occupying similar status or performing similar functions   or   a  person,   directly   or   indirectly, controlling the franchise agent.

(b)   The applicant's financial condition.

(c)   The applicant's proposed form of doing business.

(d)   Past misconduct on the part of the applicant or its partners, officers, or directors.

(e)   Other information necessary for the protection of the public.

(2) An application for franchise agent registration shall be accompanied by a complete fingerprint record of the partners, officers, and directors of the franchise agent who shall be engaged in offers or  sales  of franchises in this state, the principal officer of the franchise agent, and the compliance officer on a form prescribed by the administrator, unless this requirement is waived or modified by the administrator.

History: 1979 AC.