Section R. 445.706 - RecordsRule 706. Every franchise agent pursuant to this part shall make and keep current the following books and records relating to his business:
(a) Records of original entry detailing the sale of the franchise, to whom sold, the aggregate price, the initial payment, the installment payments, if any, and the commission paid to the franchise agent or its employees.(b) An individual registration record for each franchisee, including name, home and business address, telephone numbers, occupation, aggregate amount paid, terms of payment, and the name of its selling franchise agent employee.(c) A copy of advertising used by the agent in the offer of franchises, including, but not limited to, radio, newspapers, TV, letters and brochures.(d) The records, books, and memoranda that relate to a franchise sale, and the records required to be kept under the act and rules, for a period of not less than 6 years after the sale.Mich. Admin. Code R. 445.706