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Senate Bill 0405


 

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Senate Bill 0405

ARCHIVE (2001)

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DIGEST OF SB405 (Updated April 5, 2001 12:35 PM - DI 84)

Franchise agreements. Eliminates the current application for registration procedures for franchising and establishes registration by notification for the attempted sale of a franchise. Increases, from five years to ten years, the time period with respect to which a person must disclose specified background information. Specifies the items that must be filed with the securities commissioner for registration by notification. States that registration is effective upon the commissioner's receipt of the notification. Exempts a person who has filed a consent with the commissioner for a previous registration or exemption from the need to file another consent. States that the person's previous consent remains effective for all subsequent registrations or exemptions concerning franchises filed by the person.
    Current Status:
     Law Enacted
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