2020 Indiana Code
Title 23. Business and Other Associations
Article 2. Securities and Franchises
Chapter 2.5. Franchises
23-2-2.5-8. Determination of Exemption; Request; Fee; Notice; Hearing; Order

Universal Citation: IN Code § 23-2-2.5-8 (2020)

Sec. 8. The commissioner may determine whether any proposed offer or sale is entitled to an exemption. However, the commissioner may decline to exercise that authority as to any such offer or sale. Any interested party desiring the commissioner to exercise that authority shall submit to the commissioner a verified statement of all material facts relating to the proposed offer or sale, which verified statement shall be accompanied by a request for a ruling as to the particular exemption claimed, together with a filing fee of fifty dollars ($50.00). After such notice to interested parties as the commissioner deems proper and after a hearing, if any, the commissioner may enter an order finding the proposed offer or sale entitled or not entitled to the exemption claimed. Any order so entered, unless an appeal be taken therefrom in the manner prescribed in this chapter is binding upon the commissioner and upon all interested parties if the proposed offer or sale of a franchise when consummated or issued conforms in every relevant and material particular with the facts set forth in the verified statement submitted.

Formerly: Acts 1975, P.L.262, SEC.1.

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