SB 405-1_ Filed 03/27/2001, 13:26
Adopted 03/27/2001
Text Box
Adopted Rejected
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COMMITTEE REPORT
YES:
11
NO:
0
MR. SPEAKER:
Your Committee on Insurance, Corporations and Small Business , to which was
referred Senate Bill 405 , has had the same under consideration and begs leave to report
the same back to the House with the recommendation that said bill be amended as follows:
SOURCE: Page 1, line 1; (01)AM040503.1. -->
Page 1, between the enacting clause and line 1, begin a new
paragraph and insert:
SOURCE: IC 23-2-2.5-7; (01)AM040503.1. -->
"SECTION 1.
IC 23-2-2.5-7
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2001]: Sec. 7.
(a) Upon the entry
of a stop order under section 6
of this chapter, the commissioner shall
notify the
applicant franchisor:
(1) of
that the entry
and of the
stop order;
(2) of the reasons
therefor for the stop order; and
(3) that, upon receipt of
a written request, the matter will be set
down for hearing to commence within fifteen (15) days after
receipt of such request, unless the
applicant franchisor consents
to a later date.
(b) If no hearing is requested or none is ordered by the
commissioner, the stop order is effective until it is modified or vacated
by the commissioner.
(c) If a hearing is requested or ordered, the commissioner, after
notice and hearing, may modify or vacate the stop order.".
SOURCE: Page 2, line 14; (01)AM040503.2. -->
Page 2, between lines 14 and 15, begin a new paragraph and insert:
SOURCE: IC 23-2-2.5-11; (01)AM040503.3. -->
"SECTION 3.
IC 23-2-2.5-11
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2001]: Sec. 11. Applications for
Registration notification forms, registration renewal statements,
forms, and amendments thereto, shall be signed and verified by the
franchisor.
SOURCE: IC 23-2-2.5-12; (01)AM040503.4. -->
SECTION 4.
IC 23-2-2.5-12
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2001]: Sec. 12. If the commissioner
finds that:
(1) the applicant 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 rule or 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.
if he finds that such requirement is necessary and appropriate to protect
prospective franchisees.".
SOURCE: Page 2, line 17; (01)AM040503.2. -->
Page 2, line 17, delete "by".
Page 2, line 17, after "notification" insert " form filed".
Page 3, line 1, strike "that".
Page 3, line 1, strike "applicant".
Page 3, line 1, after "applicant" insert " franchisor".
Page 3, line 2, delete ";" and insert " of this chapter;".
Page 3, line 3, strike "that".
Page 3, line 9, delete "its" and insert " the franchisor's".
Page 3, line 15, delete "application or".
Page 3, line 15, delete "by notification".
Page 3, line 29, delete "application or".
Page 3, line 29, delete "by notification".
Page 3, line 35, delete "application or".
Page 3, line 35, delete "by notification".
Page 4, between lines 7 and 8, begin a new paragraph and insert:
SOURCE: IC 23-2-2.5-15; (01)AM040503.7. -->
"SECTION 7.
IC 23-2-2.5-15
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2001]: Sec. 15. (a) Upon the entry
of a stop order under section 14 of this chapter, the commissioner
shall notify the applicant franchisor:
(1) of that the entry and of the stop order;
(2) of the reasons therefor for the stop order; and
(3) that, upon receipt of a written request, the matter will be set
down for hearing to commence within fifteen (15) days after
receipt of such request, unless the applicant franchisor consents
to a later date.
(b) If no hearing is requested or none is ordered by the
commissioner, the stop order is effective until it is modified or vacated
by the commissioner.
(c) If a hearing is requested or ordered, the commissioner, after
notice and hearing, may modify or vacate the stop order.".
SOURCE: Page 4, line 10; (01)AM040503.4. -->
Page 4, line 10, after "14" insert " of this chapter".
Page 4, line 14, delete "notification." and insert " notification
form.".
Page 4, line 18, strike "an" and insert " a".
Page 4, line 19, strike "application for" and insert " registration".
Page 4, line 19, strike "of the registration" and insert " form".
Page 4, line 22, after "14" insert " of this chapter".
Page 4, line 27, strike "The".
Page 4, line 28, strike "renewal of a" and insert " A".
Page 4, line 28, after "registration" insert " renewal form".
Page 4, line 28, after "and" insert " contain the".
Page 4, line 31, strike "application" and insert " form".
Page 4, between lines 32 and 33, begin a new paragraph and insert:
SOURCE: IC 23-2-2.5-22; (01)AM040503.11. -->
"SECTION 11.
IC 23-2-2.5-22
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2001]: Sec. 22. The commissioner
may accept and act upon the opinions, appraisals, or reports of any
experts which may be presented by
an applicant a franchisor or any
interested party, on any question of fact concerning the franchises
proposed to be offered or sold. The commissioner may also have any
or all matters concerning those franchises investigated, appraised,
passed upon or certified to
him the commissioner by any experts
selected by
him, the commissioner, at the expense of the
applicant.
franchisor.".
SOURCE: Page 4, line 35; (01)AM040503.4. -->
Page 4, line 35, strike "an application for" and insert " a".
Page 4, line 35, after "chapter" insert " renewal form".
Page 4, line 36, after "or" insert " a".
Page 4, line 36, delete "by".
Page 4, line 36, after "notification" insert " form".
Page 5, line 8, strike "Every applicant for".
Page 5, line 9, strike "registration of an" and insert " Before a
person may".
Page 5, line 9, after "chapter" insert ", the person".
Page 5, line 12, strike "applicant's" and insert " person's".
Page 5, line 14, strike "applicant" and insert " person".
Page 5, line 14, strike "applicant's" and insert " person's".
Page 5, line 33, after "a" insert " form for".
Page 5, line 36, strike "renewal of".
Page 5, line 36, delete "by" and insert " renewal form".
Page 5, line 37, delete "notification".
Page 5, line 39, delete "proposed registration by notification" and
insert " registration notification form or registration renewal form".
Page 6, between lines 1 and 2, begin a new paragraph and insert:
SOURCE: IC 23-2-2.5-48; (01)AM040503.15. -->
"SECTION 15.
IC 23-2-2.5-48
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2001]: Sec. 48.
(a) All
applications,
registration notification forms, registration renewal forms,
applications to amend registrations, reports, and other papers and
documents filed with the commissioner under this chapter shall be
open to public inspection. The commissioner may
in his discretion,
publish any information filed with
him or obtained by
him. the
commissioner. No provision of this chapter authorizes the
commissioner or any of
his the commissioner's assistants, clerks, or
deputies to disclose any information withheld from public inspection
except among themselves or when necessary or appropriate in a
proceeding or investigation under this chapter or to other federal or
state regulatory agencies. No provision of this chapter either creates or
derogates from any privilege which exists at common law or otherwise
when documentary or other evidence is sought under a subpoena
directed to the commissioner or any of
his the commissioner's
assistants, clerks, or deputies.
(a) (b) It is unlawful for the commissioner or any of
his the
commissioner's assistants, clerks, or deputies to use for personal
benefit any information which is filed with or obtained by the
commissioner and which is not then generally available to the public.
(b) (c) Upon request, and at such reasonable charges as he the
commissioner prescribes by rule, the commissioner shall furnish to
any person photostatic or other copies (certified by him the
commissioner if certification is requested) of any document which is
retained as a matter of public record, except that he the commissioner
shall not charge or collect any fee for photostatic or other copies of any
document furnished to public officers for use in their official capacity.
(c) (d) The commissioner may destroy any registration applications,
notification forms, together with the files and folders, as useless or
obsolete, four (4) years after the date of registration; provided that a
permanent record shall be maintained of any disciplinary action taken
by the commissioner and of all orders issued under this chapter.
(d) (e) Copies on microfilm or in other form which may be retained
by the commissioner in his discretion of any records destroyed under
this section shall be accepted for all purposes as equivalent to the
original when certified by the commissioner.".
Renumber all SECTIONS consecutively.
(Reference is to SB 405 as printed February 9, 2001.)
and when so amended that said bill do pass.
__________________________________
AM040503/DI 97 2001