SECTION 559.802. Franchises; exemption.
Latest version.
1(1) 2The sale of a franchise is exempt from this part if:13(a) 14The franchise meets the definition of that term as defined by the Federal Trade Commission regulations entitled, “Disclosure Requirements and Prohibitions Concerning Franchising and Business Opportunity Ventures,” as set forth in 16 C.F.R. ss. 436.1 et seq.; and
53(b) 54Before offering for sale or selling a franchise to be located in this state or to a resident of this state, the franchisor files a notice with the department, on a form adopted by the department, stating that the franchisor is in substantial compliance with the requirements of the Federal Trade Commission rule and pays a fee in an amount set by the department not exceeding $100.
121(2) 122The initial exemption granted under this section is for a period of 1 year after the date of filing the notice, and it may be renewed each year for an additional 1-year period upon filing a notice for renewal and paying a renewal fee in an amount set by the department, not exceeding $100.
176(3) 177The department may require only the name of the applicant, the name of the franchise and the name under which the applicant intends to, or does, transact business, if different, the applicant’s principal business address, and the applicant’s federal employer identification number.
219(4) 220The department may adopt rules to implement the provisions of this section.
Bills Cite this Section:
None
Cited by Court Cases:
None
var val = document.getElementById('citecontent').innerHTML;
var href = decodeURIComponent(window.location.href);
var url = decodeURIComponent(escape(href.split("#")[0]));
url = decodeURIComponent(escape(url.split(",")[0]));
art.dialog.defaults.title = url;
art.dialog.data('cite', val);
art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');
