Michigan Administrative Code
Department - Attorney General
Consumer Protection and Charitable Trusts Division
Franchises
Part 2 - REGISTRATION REQUIREMENTS
Section R. 445.208 - Revising, amending, or supplementing prospectus or operations manual; review

(1) If the prospectus, operations manual, or a part thereof becomes misleading as to a material fact, or omits to state a material fact necessary in order to make the statement made, in the light of the circumstances under which they are made, not misleading, it shall be revised or supplemented, and the revision or supplement shall be submitted to the administrator prior to use.

(2) The administrator shall promptly review the amendment and advise the registrant when the administrator's objection to the use of the amended prospectus ceases. An offer or sale shall not be made prior to notification by the administrator.

(3) If the registration renewal statement, or an amendment to an application for registration or notification of an exemption, alters the text of the offering prospectus, or of an item, exhibit, or other document previously filed as a part of an application for registration, or notification of an exemption, the changes in the text shall be indicated by means of underscoring or in some other appropriate manner.