Responds to requests for clarification of Advisory 99-6 addressing business consultants' disclosure obigations.
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re: Applicability of the Non-Profit Institutions Act
Discusses the fractional franchise exemption, in particular: (1) whether the location of the fractional franchise may be disqualifying; (2) whether the exemption is available to a partnership; and (3) whether the exemption is available where the fractional franchisee operates the new line of business as a newly formed corporate subsidiary.
Discusses business consultants' obligation to furnish disclosure documents.