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<section article="gbr" article_name="Business Regulation" number="14-103" title_number="14" title_name="Business Opportunities, Franchises, and Multilevel Distribution Companies" subtitle_number="1" subtitle_name="Business Opportunities">
  <level label="a">
    <text>This subtitle applies to an offer to sell or sale of a business opportunity if:</text>
    <level label="1">
      <text>the offeree or buyer is a resident of the State;</text>
    </level>
    <level label="2">
      <text>the business opportunity will be or is operated in the State;</text>
    </level>
    <level label="3">
      <text>the offer to sell is made in the State; or</text>
    </level>
    <level label="4">
      <text>the offer to buy is accepted in the State.</text>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>For purposes of this section, an offer to sell is made in the State, whether or not either party is then present in the State, if the offer:</text>
      <level label="i">
        <text>originates from the State; or</text>
      </level>
      <level label="ii">
        <text>is directed by the offeror to the State and is received at:</text>
        <level label="1">
          <text>the place to which it is directed; or</text>
        </level>
        <level label="2">
          <text>a post office in the State.</text>
        </level>
      </level>
    </level>
    <level label="2">
      <text>For purposes of this section, an offer to sell is not made in the State only because the publisher circulates or there is circulated on the publisher’s behalf in the State:</text>
      <level label="i">
        <text>a newspaper or other publication of general, regular, and paid circulation that:</text>
        <level label="1">
          <text>is not published in the State; or</text>
        </level>
        <level label="2">
          <text>is published in the State but has had more than two-thirds of its circulation outside the State during the past 12 months; or</text>
        </level>
      </level>
      <level label="ii">
        <text>a radio or television program that originates outside the State and is received in the State.</text>
      </level>
    </level>
    <level label="3">
      <text>For purposes of this section, an offer to buy is accepted in the State if acceptance:</text>
      <level label="i">
        <text>is communicated to the offeror in the State; and</text>
      </level>
      <level label="ii">
        <text>has not been communicated previously to the offeror, orally or in writing, outside the State.</text>
      </level>
    </level>
    <level label="4">
      <text>For purposes of this section, acceptance is communicated to the offeror in the State, whether or not either party is then present in the State, if:</text>
      <level label="i">
        <text>the offeree directs acceptance to the offeror in the State reasonably believing the offeror to be in the State; and</text>
      </level>
      <level label="ii">
        <text>the acceptance is received at:</text>
        <level label="1">
          <text>the place to which it is directed; or</text>
        </level>
        <level label="2">
          <text>a post office in the State.</text>
        </level>
      </level>
    </level>
  </level>
</section>
