§ 59.1-266 Prohibited acts
No business opportunity seller shall:
1. Represent that the business opportunity provides income or earning potential of any kind unless the seller has documented data to substantiate the claims of income or earning potential and discloses such data to the prospective purchaser at the time such representations are made; or
2. Use the trademark, service mark, trade names, logotype, advertising or other commercial symbol of any business which does not either control the ownership interest in the seller or is not legally obligated for all representations made by the seller in regard to the business opportunity, unless it is clear from the circumstances that the owner of the commercial symbol is not involved in the sale of the business opportunity; or
3. Make or authorize the making of any reference to its compliance with this chapter in any advertisement or other contact with prospective purchasers.
History
This law was first created in 1979. The record of its establishment is cataloged in chapter 523 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1979 “Acts” aren’t available online.
1979, c. 523.