The following must be adhered to with respect to all
applications for registration, registration renewal or registration
amendment:
(1) Completion of
application. An application for registration of the offer or sale of franchises
shall include the following, all of which shall be verified by means of the
prescribed signature page:
(a)
Application;
(b) Supplemental
information page(s);
(c) Seller
disclosure form;
(d) A copy of the
Franchise Disclosure Document.
(2) The following shall be attached to the
application:
(a) A consent to service of
process; and
(b) One copy of any
advertising to be used in connection with the offer or sale in this state of
franchises.
(3)
Submission of application. All applications for registration, renewal, or
amendment of a franchise shall be filed through the online franchise filing
system administered by the director.
(4) Disclosure: The offering circular shall
be prepared in accordance with the Instructions for Preparation of the
Franchise Disclosure Document contained in section IV. of the 2008 Franchise
Registration and Disclosure Guidelines promulgated by the North American
Securities Administrators Association, Inc. (NASAA).
(5) Subfranchisors: When the person filing
the application for registration is a subfranchisor, the application shall also
include the same information concerning the sub-franchisor as is required from
the franchisor; the franchisor, as well as the subfranchisor, shall execute a
signature page.
(6) Signing of
application: The application shall be signed by an officer or general partner
of the applicant; however, it may be signed by another person holding a power
of attorney for such purposes from the applicant. If signed on behalf of the
applicant pursuant to such power of attorney, the application shall include as
an additional exhibit a copy of said power of attorney or a copy of the
corporate resolution authorizing the attorney to act.
(7) Manually or digitally signed consent of
accountant: All applications shall be accompanied by a manually or digitally
signed consent of the independent public accountants for the use of their
audited financial statements as such statements appear in the offering
circular.
