It is unlawful for any person to effect or attempt to effect a sale of a franchise in this state, except in transactions exempted under Chapter 1 (commencing with Section 31100) of Part 2 of this division, unless that person is any of the following: (a) Identified in Item 2 of a franchise disclosure document submitted with an application or amended application filed with the commissioner pursuant to Part 2 (commencing with Section 31100) of this division. (b) Licensed by the Department of Real Estate as a real estate broker or real estate salesperson. (c) Licensed by the commissioner as a broker-dealer or agent pursuant to the Corporate Securities Law of 1968. (d) Registered as a franchise broker pursuant to Part 7 (commencing with Section 31520).
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