# Business Regulation (GBR)

## Title 14. Business Opportunities, Franchises, and Multilevel Distribution Companies

### Subtitle 1. Business Opportunities

#### Section 14-120

In connection with an offer to sell or sale of a business opportunity, a person may not make any untrue statement of a material fact or omit to state a material fact necessary in order to make the statement made, in light of the circumstances under which it is made, not misleading.

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Md. Code Ann., Bus. Reg. (as displayed at mgaleg.maryland.gov, October 16, 2026)