Illinois Administrative Code
Title 14 - COMMERCE
Part 135 - REGULATIONS UNDER THE BUSINESS OPPORTUNITY SALES LAW OF 1995
Subpart C - REGISTRATION OF BUSINESS OPPORTUNITIES
Section 135.300 - Complete Filing

Universal Citation: 14 IL Admin Code ยง 135.300

Current through Register Vol. 48, No. 38, September 20, 2024

A complete filing within the meaning of Section 5-30(d)(2) of the Act is a filing which includes:

a) a completed and current application on IL BSOP Form 5-25 and payment to the Securities Department of all appropriate fees as specified in Section 135.2110 of this Part. The application shall be accompanied by the following:

1) a disclosure document with a current financial statement, without any material deficiencies or material omissions in disclosure. The applicant may utilize IL BSOP Form 5-35(b) and IL BSOP Form 5-35;

2) a consent to service of process for the applicant on Illinois Form BO05, unless the applicant is a corporation organized or authorized to transact business under the laws of this State; and

3) a surety bond in the amount of $25,000, if required. The applicant may utilize IL BSOP Form 5-50.

b) Upon the grant of registration of a business opportunity, the Securities Department shall issue to the business opportunity proof of registration as evidence of such registration.

c) The application and documents on file with the Securities Department with respect to the business opportunity shall be amended whenever a change occurs which renders the information contained therein not accurate in any material respect. Such amendment shall be filed with the Securities Department within ten business days after the occurrence of the change.

d) An applicant may request that certain information in its application be kept confidential. The Securities Department shall honor such request if the information is personal in nature or if public access to the information is not reasonably necessary to further the purposes of the Act.

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