13-15-4.5 - Notice of exemption filing.
13-15-4.5. Notice of exemption filing.
(1) (a) Any franchise exempt from this chapter pursuant to Subsection 13-15-2(1)(b)(iii)shall, prior to offering for sale or selling a franchise to be located in this state or to a resident ofthis state, file with the division a notice that the franchisor is in substantial compliance with therequirements of the Federal Trade Commission rule found at Title 16, Chapter I, Subchapter d,Trade Regulation Rules, Part 436, Disclosure Requirements and Prohibitions ConcerningFranchising and Business Opportunity Ventures, together with a filing fee determined by thedepartment pursuant to Section 63J-1-504, not to exceed $100.
(b) The notice shall state:
(i) the name of the applicant;
(ii) the name of the franchise;
(iii) the name under which the applicant intends to or does transact business, if differentthan the name of the franchise;
(iv) the applicant's principal business address; and
(v) the applicant's federal employer identification number.
(2) (a) The initial exemption granted under this section is for a period of one year fromthe date of filing the notice.
(b) The exemption may be renewed each year for an additional one-year period uponfiling a notice for renewal and paying a renewal fee determined pursuant to Section 63J-1-504,not to exceed $100.
(3) The division may make rules to implement this section.
Amended by Chapter 183, 2009 General Session