Minnesota Administrative Code

2820.6705 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.6805 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.6905 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.7005 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.7110 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.7205 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.7305 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.7405 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.8001 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.8500 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.8600 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.9000 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.9050 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.9060 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.9070 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.9200 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.9250 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.9265 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2820.9275 [Removed, L 2002 c 387 s 17] Published Electronically: October 1, 2002

2860.0100 DEFINITIONS. Subpart 1. Scope. For the purposes of Minnesota Statutes 1973 Supplement, chapter 80C and these rules, these terms shall have the following meanings. Subp. 2. Affiliate. "Affiliate" of another person means any person directly or indirectly controlling, cont…

2860.0200 EXEMPTIONS. Subpart 1. Isolated sales. The provisions of Minnesota Statutes 1973 Supplement, section 80C.03, clause (a), shall be available to franchisees only. The provisions of this part shall not be interpreted as to require registration of the franchise prior to its…

2860.0300 INTERPRETIVE OPINIONS. Interpretive opinions issued by the commissioner pursuant to Minnesota Statutes 1973 Supplement, section 80C.18 shall be applicable only to the transaction identified in the request thereafter, and may not be relied upon in connection with any oth…

2860.0400 SERVICE OF PROCESS. Every consent to service of process shall be made in the form set forth in part 2860.9930. Statutory Authority: MS s 80C.18 Published Electronically: September 14, 2007

2860.0500 ADMINISTRATION. The following charges shall be made for copies of documents furnished by the commissioner and for certification thereof: A. 50 cents for each certificate under seal affixed thereto, plus 50 cents for each page or fraction thereof to be certified, whether…

2860.1100 REGISTRATION REQUIREMENT. Subpart 1. Order of registration. An effective order of registration shall authorize the offer, grant, or sale of one or more franchises provided that the initial contracts or agreements under which they are offered are substantially identical …

2860.1200 GUIDELINES FOR PREPARATION OF APPLICATIONS FOR REGISTRATION. Subpart 1. Purpose and content. The guidelines set forth in these rules are intended to indicate the form and informational content of an application for registration required by the commissioner of commerce. …

2860.1300 FORM OF ANNUAL REPORT, REGISTRATION, AND REGISTRATION AMENDMENT. All applications for registration, annual report, or registration amendment shall have as the first page thereof a facing page in the form set forth in part 2860.9910, containing the information therein sp…

2860.1400 FINANCIAL STATEMENTS. Subpart 1. Preparation. All financial statements required by these rules shall be prepared in accordance with generally accepted accounting principles. Financial statements shall be audited by an independent certified public accountant who shall ex…

2860.1500 ACCOUNTING. Subpart 1. Auditors' report. The auditors' report required herein shall comply with the following requirements: A. The report shall be dated, manually signed, and shall identify the financial statements covered by the report. B. The report shall state whethe…

2860.1600 CONSOLIDATED STATEMENTS. Financial statements filed in accordance with the provisions of this chapter shall generally be prepared on a consolidated basis when the franchisor has a "controlling financial interest" in its subsidiary or subsidiaries as those terms are unde…

2860.1700 VERIFICATION OF FORMS. Every application for registration, amendments thereto, and annual report shall be signed and verified by the applicant and by the franchisor and subfranchisor on whose behalf the offering is to be made in the form in part 2860.9920. Statutory Aut…

2860.1800 IMPOUNDMENTS. Impoundments: A. The commissioner shall be a party to any impoundment agreement imposed as a condition of registration under Minnesota Statutes 1973 Supplement, section 80C.05. B. When an impoundment is imposed under Minnesota Statutes 1973 Supplement, sec…

2860.1900 SURETY BOND IN LIEU OF IMPOUNDMENT. In lieu of the imposition of an impoundment under Minnesota Statutes 1973 Supplement, section 80C.05, a franchisor may post a surety bond in such amount as shall be required by the commissioner. The commissioner shall take into consid…

2860.2100 WHEN AMENDMENT REQUIRED. The occurrence of any of the events mentioned in part 2860.2400 shall necessitate the filing of a revised public offering statement. Statutory Authority: MS s 80C.18 Published Electronically: September 14, 2007

2860.2200 HOW AMENDMENT ACCOMPLISHED. An application to amend the registration shall be made by submitting a facing page in the form described in part 2860.1300, accompanied by a revised public offering statement, as indicated in part 2860.2300 and the $100 fee. Statutory Authori…

2860.2300 INDICATING ALTERATIONS. The amended public offering statement filed in connection with an application to amend registration shall indicate by means of underscoring all alterations of the text of the public offering statement previously filed as a part of registration. S…

2860.2400 MATERIAL EVENT OR CHANGE. "Material event" or "material change" shall include, but not be limited to, the following: A. the termination, closing, or failure to renew by the franchisor during any consecutive three-month period after registration of ten percent of all fra…

2860.2500 ANNUAL REPORT. Subpart 1. Filing. The registrant shall file an annual report by submitting a facing page in the form described in part 2860.1300, a public offering statement as indicated in subpart 2 and the $200 fee. Subp. 2. Public offering statement. The proposed pub…

2860.3100 FILED COPY OF STATEMENT. There shall be on file with the commissioner at all times a complete copy of the public offering statement amended to reflect the current status of the franchisor and in use in connection with the offer, grant, or sale of the franchise registere…

2860.3200 READABLE; NO ADVERTISING. Each public offering statement shall be typed or printed with standard sized black type or an adequate substitute rendering the document easily readable. No advertisement or photographs shall be permitted therein unless specifically permitted b…

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 organizati…

2860.3400 DOCUMENT FORMAT. Subpart 1. Information required. The body of the public offering statement shall contain the information required by part 2860.3500, set forth under appropriate caption or headings reasonably indicative of the principal subject matter set forth thereund…

2860.3500 INFORMATION REQUIRED. Subpart 1. Sequential order. The letters, numbers, and titles used herein merely outline the disclosure information in an orderly fashion and are not a required part of the public offering statement. However, the following sequential order should b…

2860.3600 LAST PAGE OF DOCUMENT. The last page of each public offering statement shall contain a detachable document acknowledging receipt of the public offering statement by the prospective franchisee. Statutory Authority: MS s 80C.18 Published Electronically: September 14, 2007

2860.3700 OFFER BY SUBFRANCHISOR. When the franchises to be registered are proposed to be offered or sold by a subfranchisor or that person's agents, the application shall also include the same information in parts 2860.3100 to 2860.3600 concerning the subfranchisor as is require…

2860.3800 ALTERNATIVE APPLICATIONS. The commissioner may accept as application for registration under Minnesota Statutes 1973 Supplement, chapter 80C, any currently effective public offering statement prepared for compliance with the registration provisions of the franchise laws …