Illinois Administrative Code (Last Updated: March 27, 2024) |
TITLE14. COMMERCE |
PART200. FRANCHISE DISCLOSURE ACT |
SUBPARTA. DEFINITIONS |
§200.110. Material
Latest version.
-
A statement or omission of fact is "material" within the meaning of the Act if there is a substantial likelihood that a reasonable prospective franchisee would consider it significant in making a decision to purchase or not purchase the franchise.
(Source: Amended at 23 Ill. Reg. 11561, effective September 7, 1999)