Business Regulation - Maryland Franchise Registration and Disclosure Law - Alterations (Franchise Reform Act)

HB 992, the "Franchise Reform Act," amends Maryland's Franchise Registration and Disclosure Law to directly affect franchisors, franchisees, and the Securities Commissioner. Key changes include extending the time the Commissioner can act on violations from 3 to 5 years, requiring franchise registration exemptions to adjust for inflation using the Consumer Price Index, and prohibiting franchisors from blocking franchisees’ right to form associations. The bill also creates a pilot program to waive registration renewal fees for qualifying businesses and extends the deadline for franchise-related lawsuits. These updates aim to modernize franchise oversight while balancing enforcement timelines and cost adjustments.