In the State of Illinois Franchisors are required to register their FDD with the Illinois Secretary of State. Registration must occur prior to offering or selling a Franchise in or from Illinois. The Illinois Franchise Disclosure Act sets forth a Franchisors registration and regulatory obligations in the State.
Pursuant to the Illinois Franchise Disclosure Act, to register your FDD in the State of Illinois the following forms and fees must be included in your application:
Uniform Franchise Registration Application Page;
Supplemental Information Page;
Sales Agent Disclosure Form for each sales agent employment by or affiliated with the applicant;
Uniform Consent to Service of Process naming the Illinois Attorney General as agent to receive service, with corporate, individual or partnership acknowledgment;
Certification Page;
Auditor's consent letter granting consent to use each audited report in the registration;
Uniform Franchise Offering circular in duplicate current within 120 days and in compliance with UFOC Guidelines. Updated information pertaining to Items 20 or 21 may be submitted as an exhibit without changing the information already in these items; and
A $500 nonrefundable fee payable to the State of Illinois (as of 2011)
The Illinois Secretary of State will generally notify your Franchise attorney as to whether or not your registration was approved or rejected. If no order has been issued or proceeding pending under Section 5-45 of the Illinois Franchise Disclosure Act and the franchise registration application has been accepted the effective date of the franchise registration is generally the 10th full business day after the filing has been completed. If the Illinois Secretary of State wishes they may waive or reduce the time period of effectiveness, provided that a complete filing has been made.
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and Charles N. Internicola, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. Further you acknowledge that any and all citations to cases and statutes must be independently verified by competent legal counsel to confirm the validity and accuracy of such information. The content of this site is subject to the Copyright of its author and owner, Charles N. Internicola, Esq.
