Financial Institutions

CHAPTER 19-28.1
Franchise Investment Act

SECTION 19-28.1-21

§ 19-28.1-21. Private civil actions.

(a) A person who violates any provision of this act is liable to the franchisee for damages, costs, and attorneys and experts fees. In the case of a violation of § 19-28.1-5, § 19-28.1-8, or § 19-28.1-17(1) – (5), the franchisee may also sue for rescission. No person shall be liable under this section if the defendant proves that the plaintiff knew the facts concerning the violation.

(b) Every person who directly or indirectly controls a person liable under this section, every principal executive officer or director of the liable person, every person occupying a similar status or performing similar functions, and every agent or employee of a liable person, who materially aids in the act or transaction constituting the violation, is also liable jointly and severally with and to the same extent as the person liable under this section, unless the agent, employee, officer, or director proves he or she did not know, and in the exercise of reasonable care could not have known, of the existence of the fact by reason of which the liability is alleged to exist.

History of Section.
(P.L. 1993, ch. 395, § 2.)