Maine Franchise FDD Filing and Registration Laws
Maine Franchise Registration Status: Filing State
State Filing Fee: $25.00
Franchised businesses are required to abide not only by the federal laws concerning franchising but also state specific laws for franchises and businesses. Maine is considered a franchise filing state. Maine is different from a registration state or non-registration state in the sense that there is not a specific franchise law in place, however, there is a business opportunity law that is applicable to some franchised businesses. A few years ago there was also an attempt to pass a franchise act in Maine. However, attempts to pass it were not successful and it was put on hold.
In Maine the Regulations of the Sale of Business Opportunities Statute outlines the way that businesses in Maine can be sold. The process for filing with the state of Maine is dependant on whether or not the franchisor has a federally registered trademark. For franchisors who have a federally registered trademark they are exempt from the Maine business opportunities law. For franchisors who do not meet this criteria Maine requires that they file a copy of their Franchise Disclosure Document (FDD) and a $25.00 filing fee with the Office of Securities in Maine. Proof of any bond or escrow accounts may be required at the discretion of the state.
Filing needs to be renewed at least annually and may need to be renewed sooner if information in the FDD changes prior to the time that it is to be renewed. The renewal fee for filing is $10.00. Failing to renew the registration for the business before its expiration may result in an inability to offer or sell franchises in the state of Maine until the initial filing process is repeated.
Maine Office of Securities Division
The mailing address for the Maine Office of Securities Division of the Department of Professional & Financial Regulations is 121 State House Station, Augusta, ME 04333 for USPS mailings and 76 Northern Avenue, Gardiner, ME 04345 for UPS and FedEx. The phone number is 1-877-624-8551.