Minn. R. agency 120, ch. 2860, PUBLIC OFFERING STATEMENT, pt. 2860.3300

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

Part 2860.3300 - OUTSIDE FRONT COVER

The outside front cover of the public offering statement, unless otherwise permitted by the commissioner, shall contain the following information:

A. the name, telephone number, and principal business address of franchisor and its type of organization;

B. a brief description of the franchise to be offered including the trade name under which the franchisee will operate;

C. a sample of the primary business trademark, patent, brand, logotype, name, or commercial label or symbol utilized by the franchisor under which the products or services are marketed and under which the franchisee will conduct business (place in upper left-hand corner of the cover page);

D. the initial franchise fee, or explanation for the absence thereof; state that further information regarding the franchisee's anticipated investment can be found on the appropriate page in the body of the public offering statement (this provision shall not be applicable in the case of franchises subject to the provisions of parts 2860.5100 to 2860.5600);

E. the name, telephone number, and address of the franchise sales organization if other than the franchisor;

F. the following statement in boldface type:

THESE FRANCHISES HAVE BEEN REGISTERED UNDER THE MINNESOTA FRANCHISE ACT. REGISTRATION DOES NOT CONSTITUTE APPROVAL, RECOMMENDATION OR ENDORSEMENT BY THE COMMISSIONER OF COMMERCE OF MINNESOTA OR A FINDING BY THE COMMISSIONER THAT THE INFORMATION PROVIDED HEREIN IS TRUE, COMPLETE AND NOT MISLEADING.

THE MINNESOTA FRANCHISE ACT MAKES IT UNLAWFUL TO OFFER OR SELL ANY FRANCHISE IN THIS STATE WHICH IS SUBJECT TO REGISTRATION WITHOUT FIRST PROVIDING TO THE PROSPECTIVE FRANCHISEE, AT LEAST 7 DAYS PRIOR TO THE EXECUTION BY THE PROSPECTIVE FRANCHISEE OF ANY BINDING FRANCHISE OR OTHER AGREEMENT, OR AT LEAST 7 DAYS PRIOR TO THE PAYMENT OF ANY CONSIDERATION, BY THE FRANCHISEE, WHICHEVER OCCURS FIRST, A COPY OF THIS PUBLIC OFFERING STATEMENT, TOGETHER WITH A COPY OF ALL PROPOSED AGREEMENTS RELATING TO THE FRANCHISE. THIS PUBLIC OFFERING STATEMENT CONTAINS A SUMMARY ONLY OF CERTAIN MATERIAL PROVISIONS OF THE FRANCHISE AGREEMENT. THE CONTRACT OR AGREEMENT SHOULD BE REFERRED TO FOR AN UNDERSTANDING OF ALL RIGHTS AND OBLIGATIONS OF BOTH THE FRANCHISOR AND THE FRANCHISEE.

G. the date of the public offering statement, which shall be the date upon which the registration is ordered effective by the commissioner.

Minn. R. agency 120, ch. 2860, PUBLIC OFFERING STATEMENT, pt. 2860.3300

17 SR 1279

Statutory Authority: MS s 80C.18