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Although South Carolina is not a franchise registration state, it has enacted Business Opportunity Laws that, if triggered, require the filing of a notice and, potentially, the registering of your franchise offering as a business opportunity.
North Dakota is a franchise registration state. Before you offer or sell a franchise in North Dakota, you must register your Franchise Disclosure Document (FDD) with the North Dakota Securities Department.
Illinois is a franchise registration state and has enacted franchise laws. Under Illinois franchise law, before offering or selling a franchise in the state you must first register your FDD with the Franchise Bureau of the Illinois Attorney General.
South Dakota is a franchise registration state. So, you must file your FDD with the Division of Insurance and Securities Regulation of the South Dakota Department of Labor and Regulation prior to offering or selling franchises in the state.
Look for keywords like "franchise" or "become an owner." Additionally, online business directories can be a great resource for finding out if a brand is a franchise or not. A second key indicator for identifying franchises is the Franchise Disclosure Document (FDD).
The single sale franchise exemption is available to franchisors who wish to avoid registration requirements by limiting the number of franchises offered for sale. In Illinois, the number of franchise sales is limited to 2 sales in any 12-month period.
Questions? As one of several states in the United States that requires registration of franchise offerings, the Minnesota Department of Commerce-Securities Division is responsible for overseeing and helping to maintain the integrity of the franchise community in the State of Minnesota.
When registration is required, franchisors must pay a $500 fee and submit the FDD with a franchise registration application form, sales agent disclosure forms, an auditor's consent, a service of process form, and certain other required documents to the Illinois Franchise Bureau (500 S.