New York Franchise Lawyer | NY Franchise Registration
New York is a "franchise registration" state requiring franchisors to "register" and file their current FDD and supporting documents and disclosing with the New York Attorney General. Registration must occur prior to offering or selling a franchise in the state of New York or within the State of New York.
Upon submission of a complete franchise registration application and FDD franchisors and their franchise counsel will, typically, receive a response within thirty days of submission. The response will typically be in the form of a notice from the Law Department wherein you will be advised that (a) your FDD registration application has been accepted for filing or (b) your application was denied due to certain specified deficiencies.
Franchisors interested in submitting their FDD for initial franchise registration in New York should be aware of some of the following filing requirements and information:
Filing fee (currently) in the amount of $750 (Checks must be drawn on a United States Bank and made payable to "The New York State Department of Law." All checks must be denominated in U.S. Dollars.)
Uniform Consent to Service of Process (UFRA-D) with notary public acknowledgment
Guarantee of Performance (UFRA-F) with notary public acknowledgment. This form should be completed only when the financial statements included are pursuant to Item 21 (B) of New York's Franchise Regulations, i.e., when the franchisor includes financial statements of its affiliated company, and the affiliated company absolutely and unconditionally guarantees to assume the duties and obligations of the franchisor under the franchise agreements.
Offering Circulars - (a) Once complete hard copy of the proposed offering circular and one read-only CD containing another copy; OR (b) Two hard copies of the proposed offering circular.
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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.
