New York Codes, Rules and Regulations
Title 13 - DEPARTMENT OF LAW
Chapter VII - FRANCHISE OFFERINGS
Part 200 - FRANCHISE OFFERINGS
Section 200.11 - Registration of franchise sales agents

Universal Citation: 13 NY Comp Codes Rules and Regs ยง 200.11

Current through Register Vol. 46, No. 12, March 20, 2024

(a) In compliance with section 683.13 of the General Business Law, all persons acting as franchise sales agents as defined in General Business Law, section 681.8 in the offer for sale or sale of a franchise shall file a sales agent disclosure form (UFRA-E) with the Department of Law. The department shall issue an order of registration upon the receipt of a properly executed application and no offer for sale or sale of a franchise shall be made by a franchise sales agent until said registration order has been issued.

(b) In compliance with section 683.13 of the General Business Law, every person acting as a franchise sales agent who shall have filed a sales agent disclosure form (UFRA-E) with the Department of Law shall file an updated sales agent disclosure form (UFRA-E) whenever any of the following changes have taken place, to indicate the change of information originally filed.

(1) Name. The change in name of registrant (in the event the registrant incorporates, an entirely new registration statement must be filed).

(2) Address. Change of business address and addresses of new branch offices in New York.

(3) Management. Changes in the officers, directors, general partners or other principals of the registrant, giving the new names and addresses involved in such changes.

(4) Litigation. Upon each occasion when the registrant becomes the subject of any criminal action, or is convicted of any misdemeanor or felony, is the subject of any injunction or cease and desist order relating to the offer or sale of securities or franchises or is the subject of a money judgment or injunction in a civil action involving fraud, embezzlement, fraudulent conversion or misappropriation of property.

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