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Explanatory Statement And Statement Of Non-Prejudice Prepared Pursuant To Section 36b-62(e) POSALE - Connecticut
| Explanatory Statement And Statement Of Non-Prejudice Prepared Pursuant To Section 36b-62(e) Form. This is a Connecticut form and can be used in General Blue Sky Secretary Of State . |
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EXPLANATORY STATEMENT AND STATEMENT OF NON-PREJUDICE PREPARED PURSUANT TO SECTION 36b-62(e) OF THE CONNECTICUT BUSINESS OPPORTUNITY INVESTMENT ACT (Name of Seller) of (Address of Seller) submits that it has offered to sell, or sold, business opportunities wit hout compliance with the registration provisions of Chapter 672c of the Conne cticut General Statutes, the Connecticut Business Opportunity Investment Act ( the "Act"). This document is being prepared for presentation to each purchaser-inves tor to whom a business opportunity was sold in violation of the Act. The pur pose of this document is to provide purchaser-investors with the appropriate disclosure information and to inform purchaser-investors of their rights and remedies under the Act. The following Explanatory Statement describes th e remedies provided to purchaser-investors under Section 36b-74 of the Act . EXPLANATORY STATEMENT Sec. 36b-74. (Formerly Sec. 36-517). Contracts voidable, when. Purchas er- investors remedies. (a) If a business opportunity seller uses any untrue or misleading statement in the sale of a business opportunity, or fails to give the pr oper disclosures in the manner required by section 36b-63, or fails to delive r the equipment, supplies or products or render the services necessary to begi n substantial operation of the business opportunity within forty-five days of the delivery date stated in the business opportunity contract, or if the contract does not comply with the requirements of section 36b-66, then within two years of the date of the contract, upon written notice to suc h business opportunity seller, the purchaser-investor may void the contrac t and shall be entitled to receive from such business opportunity seller a ll sums paid to such business opportunity seller. Upon receipt of such sums , such purchaser-investor shall make available to such business opportunit y American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 2Page 2 seller at such purchaser-investors address or at the places at which th ey are located at the time notice is given, all products, equipment or supp lies received by such purchaser-investor. Purchaser-investors shall not be entitled to unjust enrichment by exercising the remedies provided in thi s subsection. (b) Any purchaser-investor injured by a violation of sections 36b-60 t o 36b- 80, inclusive, or by a business opportunity sellers breach of contract subject to said sections or any obligation arising therefrom may bring a n action for recovery of damages, including reasonable attorneys fees. (c) Upon complaint of any person that a business opportunity seller ha s violated the provisions of sections 36b-60 to 36b-80, inclusive, the sup erior court for the judicial district in which either the seller or purchaser- investor is located or the superior court for the judicial district of H artford- New Britain shall have jurisdiction to enjoin the defendant or defendant s from further violations. (d) Any purchaser-investor who is damaged by any violation of sections 36b-60 to 36b-80, inclusive, or by a sellers breach of the contract for the business opportunity sale or of any obligation arising therefrom may bri ng an action against the bond or trust account provided for in section 36b- 64 to recover damages suffered. (e) The rights and remedies provided by sections 36b-60 to 36b-80, inclusive, shall be in addition to any other rights or remedies provided by law or equity. (f) Every cause of action under sections 36b-60 to 36b-80, inclusive, shall survive the death of any person who might have been a plaintiff or defendant. (g) No person may sue under this section more than six years after the contract of sale. (h) No person who has made or engaged in the performance of any contra ct in violation of any provision of sections 36b-60 to 36b-80, inclusive, o r any regulation or order adopted or issued under said sections, or who has acquired any purported right under such contract with knowledge of the facts by reason of which its making or performance was in violation, may base any cause of action on the contract. American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 3Page 3 (i) Any condition, stipulation or provision binding any person acquiri ng any business opportunity to waive compliance with any provision of sections 36b-60 to 36b-80, inclusive, or any regulation or order adopted or issued under said sections is void. A statement containing other material facts relating to the sale or offe r for sale of this unregistered business opportunity is attached hereto as Exh ibit A. The most recent balance sheet and income statement of the seller is attached hereto as Exhibit B. Type in Name of Seller (Signature of Executive Officer of Seller) (Print Name of Executive Officer of Seller) Subscribed and sworn to before me this day of , . Notary Public My Commission Expires: American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 4Page 4 STATEMENT OF NONPREJUDICE The undersigned purchaser-investor, to whom a business opportunity was sold without compliance with the registration provisions of Chapter 672c of the Connecticut General Statutes, the Connecticut Business Opportunity Investment Act, represents as follows: 1. I have read the Explanatory Statement accompanying this Statement of Nonprejudice; 2. I am satisfied that I will not be defrauded, damaged or prejudiced b y the postsale registration of this business opportunity; and 3. I understand that, by signing this Statement of Nonprejudice, I have not waived any of my rights under the Connecticut Business Opportunity Investment Act. Name Address Telephone Number Signature of Purchaser-investor Date American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 5POST-SALE REGISTRATION CERTIFICATION BY BUSINESS OPPORTUNITY SELLER The undersigned seller of business opportunities, having applied for post-sale registration under Section 36b-62(e) of the Connecticut Busi ness Opportunity Investment Act, certifies to the Connecticut Banking Commissioner as follows: 1. Each purchaser-investor to whom an unregistered business opportunity was sold has signed the post-sale registration document consisting of an Explanatory Statement and Statement of Non-prejudice; and 2. Included herewith are the signed documents referenced above and their return receipts; and 3. Attached hereto as Exhibit A" is a list of the names, addresses and telephone
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