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.
Rhode Island Legal Code