710 IAC 6-1-3
710 IAC 6-1-3 "Fraud" defined
Cite as Ind. Admin. Code tit. 710, r. 6-1-3
Sec. 3. (a) Except as provided in subsection (b), "fraud", "fraudulent", "deceit", and "defraud" have the meaning set forth in IC 23-19-1-2(9).
(b) Fraud and deceit related to franchises includes:
(1) the misrepresentation in any way of a material fact;
(2) any promise or representation or prediction concerning the future not made honestly or in good faith; or
(3) the failure or omission to state a material fact necessary to make the statements made, because of the circumstances under which they were made, not misleading.