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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 12. If the commissioner finds that:
(1) the franchisor has failed to demonstrate that adequate financial arrangements have been made to fulfill obligations to provide real estate, improvements, equipment, inventory, training, or other items included in the offering; and
(2) the escrow or impoundment of franchise fees is necessary and appropriate to protect prospective franchisees;
the commissioner may by order require the escrow or impoundment of franchise fees and other funds paid by the franchisee until no later than the time of opening of the business of the franchisee.
Cite this article: FindLaw.com - Indiana Code Title 23. Business and Other Associations § 23-2-2.5-12 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-23-business-and-other-associations/in-code-sect-23-2-2-5-12/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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