Section R. 445.513 - Books and recordsRule 513.
(1) The franchisor, unless exempt pursuant to section 6(2)(e) or (k) of the act, shall make and keep current the following books and records relating to the purchase or sale of franchises:(a) Records of original entry containing an itemized daily record of purchases and sales of franchises, receipts of cash, other debits and credits.(b) Copies of contracts of purchase or sale.(c) Records of payments made to persons, directly or indirectly, in connection with the offer, sale, or purchase of a franchise, itemizing the persons to whom payments were made, the date and amount of each payment, the reason for the payment, and the transaction from which payment arose.(d) Individual registration records for each franchisee, with name and address, aggregate amount to be paid, and terms of the payments.(2) A franchisor shall preserve these records for not less than 6 years.Mich. Admin. Code R. 445.513