This form requests certain information with regard to each corporate officer, director, partner, or other principal of the franchise sales agent. The form also contains a supplemental franchise sales agent statement which is to be used when reporting a change of corporate officers, directors, or other principals of the franchise sales agent.
Tennessee New York Franchise Sales Agent Statement
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Multi-State
Control #:
US-4-16-2-STP
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Word;
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What Potential Business Owners Need to Know About Franchise Registration States CategoryStatesFranchise Registration StatesCalifornia, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, Hawaii, Illinois, Indiana, Virginia, Washington, Wisconsin4 more rows
The New York Franchise Sales Act makes franchisors liable to franchisees if they sell their business property in violation of the requirements, so getting everything legally correct from the beginning could smooth the process and maximize your potential profits.
New York is a franchise registration state. Before you offer or sell a franchise in New York you must first file and register your FDD with the Investor Protection Bureau of the New York Attorney General. The initial New York FDD filing fee is $750 and the annual renewal fee is $150.
The single sale franchise exemption is available to franchisors who wish to avoid registration requirements by limiting the number of franchises offered for sale. In New York, a franchisor cannot offer to sell to more than 2 persons, and potential franchisees are not granted a right to resell. N.Y.
The New York Franchise Sales Act defines a franchise as an agreement in which a franchisee is granted the right to offer, sell or distribute goods or services under a marketing plan or system prescribed by a franchisor, and the franchisee is required to pay a franchise fee.
New York considers a ?franchise? to exist in either of two circumstances: (i) where a franchisee, in return for a ?franchise fee?, is granted the right to sell goods or services under a marketing plan or system prescribed in substantial part by the franchisor, or (ii) where a franchisee, in return for a ?franchise fee? ...