An offer or sale of a franchise is exempted from §§ 19-28.1-5, 19-28.1-8, 19-28.1-9, and 19-28.1-13 — 19-28.1-16 if:
(1) It is offered or sold to a nonresident of this state;
(2) The franchise business will not be operated wholly or partly in this state;
(3) The offer or sale does not violate federal law or the law of the foreign jurisdiction; and
(4) The offeree is not actually present in this state during any offer or sale.
History of Section.
P.L. 1993, ch. 395, § 2.