Minn. R. agency 120, ch. 2860, MOTOR VEHICLE FUEL FRANCHISES, pt. 2860.5200

Current through Register Vol. 49, No. 24, December 9, 2024

Part 2860.5200 - PUBLIC OFFERING STATEMENT

The provisions of part 2860.3500 shall not apply. The body of the public offering statement shall contain the following information:

A. a copy of the entire motor vehicle fuel franchise contract or agreement proposed for use, including all amendments thereto;

B. a summary of the obligations of the franchisor (hereafter referred to as supplier) and the franchisee (hereafter referred to as dealer) together with a summary of the agreement referred to in item A;

C. any existing offer for the sale or other disposition of the location subject to the franchise agreement or negotiations that might result in an offer, sale, or other disposition of the location;

D. any existing agreement that would result in the demolition of or a major alteration of the condition of the location, or negotiations that would proceed an agreement to demolish or otherwise materially alter the condition of the location;

E. a statement disclosing the interest, and the nature thereof, enjoyed by the supplier in the location and, further, a disclosure of any other interest, and the nature thereof, enjoyed by any other person in said location;

F. full disclosure of the total amount of any security deposits required, plus the amount of interest that shall be paid on any cash security deposit, and the conditions for the return of any security deposit;

G. the training program, if any, and the specific goods and services the supplier will provide for and to the dealer;

H. the gallonage volume history, if any, of the location under negotiation for and during the three-year period immediately past or for the entire period for which the location has been supplied by the supplier, whichever is shorter;

I. the name and last known address of the previous dealer or dealers for the last five years, or for and during the entire period for which the location has been supplied by the supplier, whichever is shorter, and the reason or reasons of the supplier where an aforedescribed relationship has ended by cancellation under part 2860.4400.

Minn. R. agency 120, ch. 2860, MOTOR VEHICLE FUEL FRANCHISES, pt. 2860.5200

Statutory Authority: MS s 80C.18