66-100. Remedies. (a) If a business opportunity seller uses any untrue or misleading statements in the sale of a business opportunity, or fails to give the proper disclosures in the manner required by G.S. 66-95, or fails to deliver the equipment, supplies or product(s) necessary to begin substantial operation of the business within 45 days […]
66-94. Definition. For purposes of this Article, "business opportunity" means the sale or lease of any products, equipment, supplies or services for the purpose of enabling the purchaser to start a business, and in which the seller represents: (1) That the seller will provide locations or assist the purchaser in finding locations for the use […]
66-94.1. Responsible sellers exemption. (a) The provisions of Article 19 shall not apply to the sale or lease of any products, equipment, supplies or services where: (1) The seller has not derived net income from such sales within the State during either of its two previous fiscal years, and does not intend to derive net […]
66-95. Required disclosure statement. At least 48 hours prior to the time the purchaser signs a business opportunity contract, or at least 48 hours prior to the receipt of any consideration by the seller, whichever occurs first, the seller must provide the prospective purchaser a written document, the cover sheet of which is entitled in […]
66-96. Bond or trust account required. If the business opportunity seller makes any of the representations set forth in G.S. 66-94(3), the seller must either have obtained a surety bond issued by a surety company authorized to do business in this State or have established a trust account with a licensed and insured bank or […]
66-97. Filing with Secretary of State. (a) The seller of every business opportunity shall file with the Secretary of State two copies of the disclosure statement required by G.S. 66-95, accompanied by a fee in the amount of two hundred fifty dollars ($250.00) made payable to the Secretary of State, prior to placing any advertisement […]
66-98. Prohibited acts. Business opportunity sellers shall not: (1) Represent that the business opportunity provides income or earning potential of any kind unless the seller has documented data to substantiate the claims of income or earning potential and discloses this data to the prospective purchaser at the time such representations are made; (2) Use the […]
66-99. Contracts to be in writing; form; provisions. (a) Every business opportunity contract shall be in writing and a copy shall be given to the purchaser at the time he signs the contract. (b) Every contract for a business opportunity shall include the following: (1) The terms and conditions of payment; (2) A full and […]
