553.31 – Amendment to registration statement.
553.31 Amendment to registration statement. (1) Except as provided in sub. (3), a franchisor shall within 30 days after the happening of any material event affecting a registered franchise notify the division in writing, by an application to amend the registration statement, of any material change in the information contained in the application as originally […]
553.25 – Exemption by division.
553.25 Exemption by division. The division may by rule or order exempt from registration under s. 553.21 any franchise if registration is not necessary or appropriate in the public interest or for the protection of investors. History: 1971 c. 241; 1981 c. 54; 1995 a. 27, 364.
553.26 – Registration by notification.
553.26 Registration by notification. (1) A person who wishes to sell a franchise in this state that is not excluded under s. 553.22 and that is not exempt from registration under s. 553.23, 553.235 or 553.25 shall register the franchise by notification to the division. The notification shall be on a notice form prescribed by […]
553.27 – General registration provisions; offering circular; consent to service of process.
553.27 General registration provisions; offering circular; consent to service of process. (2) If the division finds that the applicant has failed to demonstrate that adequate financial arrangements have been made to fulfill obligations to provide real estate, improvements, equipment, inventory, training or other items included in the offering and if the franchisee so requests, the […]
553.28 – Denial, suspension or revocation of registrations.
553.28 Denial, suspension or revocation of registrations. (1) The division may issue an order suspending or revoking the effectiveness of any registration if the division finds any of the following: (a) That the franchisor or any person acting on behalf of the franchisor failed to provide an offering circular to a person purchasing a franchise […]
553.24 – Exemption proceedings.
553.24 Exemption proceedings. (1) The division may by order deny or revoke any exemption under s. 553.23, 553.235 or 553.25 with respect to the sale of a franchise for any of the grounds specified in s. 553.28 (1). (2) If the public interest and the protection of investors so require, the division may, by order, […]
553.21 – Registration requirement.
553.21 Registration requirement. No person may sell in this state any franchise unless the franchise has been registered under this chapter or is exempted under s. 553.23, 553.235 or 553.25. History: 1971 c. 241; 1981 c. 54 ss. 1, 32; 1987 a. 381; 1989 a. 56 s. 259; 1995 a. 364. A franchisor who illegally […]
553.22 – Excluded franchises.
553.22 Excluded franchises. This chapter does not apply to the offer or sale of the following franchises: (1) Any relationship if the person described in the offer as a franchisee, or any of the current directors or executive officers of that person, has been in the type of business of the franchise relationship for more […]
553.23 – Private franchisee and subfranchisor sales exempted.
553.23 Private franchisee and subfranchisor sales exempted. The sale of a franchise by a franchisee for the franchisee’s own account and the sale of the entire area franchise owned by a subfranchisor for the subfranchisor’s own account are exempted from s. 553.21 if the sale is not effected by or through a franchisor. A sale […]
553.235 – Experienced franchisee exempt transactions.
553.235 Experienced franchisee exempt transactions. (1) Conditions of exemption. Except as provided in sub. (2), a registration exemption is available for the sale of a franchise that meets all of the following conditions: (a) The immediate cash payment required by the franchisee upon purchase of the franchise is at least $100,000 and does not exceed […]