Ch. 276 LAWS OF MARYLAND

proceeds of the loan shall be expended for the purposes provided in this Act. If this
evidence is not presented by June 1, 1992, the proceeds of the loan shall be applied to
the purposes authorized in § 8-129 of the State Finance and Procurement Article.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect June 1, 1990.

Approved May 2, 1990.

CHAPTER 276
(Senate Bill 606)

AN ACT concerning

Business Opportunities - Licenses

FOR the purpose of altering the minimum amount of certain initial consideration levels
required for exemption from this Act; making certain stylistic changes; and
generally relating to the offer and sale of certain business opportunities.

BY repealing and reenacting, with amendments,
Article 56 - Licenses
Section 401

Annotated Code of Maryland
(1988 Replacement Volume and 1989 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 56 - Licenses

401.

(a) In this subtitle[,] the following words have the meanings indicated.

(b) "Business opportunity" means the sale or lease of any products, equipment,
supplies, or services which are sold to the purchaser upon payment of an initial required
consideration of [$100] $500 $200 or more for the purpose of enabling the purchaser to
start a business, and in which the seller represents:

(1) That the seller will provide or will assist in obtaining for the purchaser
accounts or retail outlets for the use or operation of vending machines, racks, display
cases, currency-operated amusement machines, or other similar devices to be located
on premises neither owned nor leased by the seller or purchaser;

(2) That the seller will purchase any [or all] products made, produced,
fabricated, grown, bred, or modified by the purchaser using in whole or in part, the
supplies, services, or chattels sold to the purchaser;

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