Revised Code of Washington - RCW Title 19 Business Regulations -- Miscellaneous - Chapter 19.110 Business Opportunity Fraud Act
- 19.110.010 Legislative declaration
The legislature finds and declares that the widespread and unregulated sale of business opportunities has become a common area of investment problems and deceptive practices ...
- 19.110.020 Definitions
Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter. (1) "Business opportunity" means the sale or lease of any ...
- 19.110.030 Sale or lease of business opportunity -- Offer to sell or lease business opportunity -- Occurrence in Washington
(1) An offer to sell or offer to lease a business opportunity occurs in Washington when: (a) The offer is made in Washington; or (b) ...
- 19.110.040 Application of chapter
Nothing in this chapter applies to: (1) A radio station, television station, publisher, printer, or distributor of a newspaper, magazine, billboard, or other advertising medium ...
- 19.110.050 Persons proposing to sell or lease business opportunity -- Registration required -- Application -- Renewal -- Denial, suspension, or revocation of registration
(1) Any person who proposes to sell or lease a business opportunity must register prior to advertising, soliciting, or making any offer, sale, or lease ...
- 19.110.060 Registration fees
The director shall charge and collect the fees specified by this section. All fees are nonrefundable and shall be deposited in the state treasury. (1) ...
- 19.110.070 Disclosure document required -- Contents
The seller shall provide the purchaser a written disclosure document at least forty-eight hours before the purchaser signs a business opportunity contract. The cover sheet ...
- 19.110.075 Business opportunity fraud -- Penalties
(1) Any person who violates RCW 19.110.050 or 19.110.070 is guilty of a gross misdemeanor. (2) Any person who knowingly violates RCW 19.110.050 or 19.110.070 ...
- 19.110.080 Disclosure document -- Director authorized to accept alternative
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- 19.110.090 Persons proposing to sell or lease business opportunity -- Service of process
Every person who proposes to sell or lease a business opportunity in this state through any person acting on an agency basis in the common ...
- 19.110.100 Seller to provide surety bond or trust account -- Action by state or injured person -- Damages
(1) If the seller makes any guarantee described in RCW 19.110.020(1)(c), the seller shall have a surety bond issued by a surety company authorized to ...
- 19.110.110 Business opportunity contract -- Content -- Cancellation period
(1) Every business opportunity contract shall be in writing and shall be dated and signed by the purchaser. (2) The seller shall provide the purchaser ...
- 19.110.120 Unlawful acts
(1) It is unlawful for any person to: (a) Make any untrue or misleading statement of a material fact or to omit to state a ...
- 19.110.130 Liability of seller for violation of chapter -- Remedies -- Damages
Any seller who violates any provision of this chapter is liable to the purchaser. The purchaser may sue for actual damages, or an injunction, or ...
- 19.110.140 Director authorized to investigate violations -- Authority to subpoena witnesses or require production of documents
The director may make public or private investigations within or outside the state of Washington to determine whether any person has violated or is about ...
- 19.110.150 Order to cease and desist -- Hearing -- Notice
(1) The director may order any person to cease and desist from an act or practice if it appears that the person is violating or ...
- 19.110.160 Actions by attorney general or prosecuting attorney to enjoin violations -- Injunction -- Appointment of receiver or conservator -- Civil penalties
(1)(a) The attorney general, in the name of the state or the director, or the proper prosecuting attorney may bring an action to enjoin any ...
- 19.110.170 Violations constitute unfair practice
Any violation of this chapter is declared to be an unfair act or practice or unfair method of competition in the conduct of trade or ...
- 19.110.180 Authority of director to issue rules, forms, orders, interpretive opinions
The director may make, amend, and repeal rules, forms, and orders as necessary to carry out the provisions of this chapter. The director may honor ...
- 19.110.190 Appointment of administrator -- Delegation of powers
The director shall appoint a competent person to administer this chapter. The director shall delegate to an administrator such powers, subject to the authority of ...
- 19.110.900 Chapter cumulative and nonexclusive
The provisions of this chapter are cumulative and nonexclusive and do not affect any other remedy available at law.[1981 c 155 § 19.] ...
- 19.110.910 Short title
This chapter may be known and cited as the Business Opportunity Fraud Act.[1981 c 155 § 22.] ...
- 19.110.920 Severability -- 1981 c 155
If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application ...
- 19.110.930 Effective date -- 1981 c 155
This act is necessary for the immediate preservation of the public peace, health, and safety, the support of the state government and its existing public ...
Last modified: April 7, 2009