Stockholm-icons / General / Search Created with Sketch.
Popular tags:
Stockholm-icons / Map / Location-arrow Created with Sketch. Bank near me Law Finance Lawyer Justice Medical American Lawyer Finance Law Business News Submit
Law Learn Small Business Law Starting a Business Buying a Business State Guide: Business Opportunity Disclosure Laws

State Guide: Business Opportunity Disclosure Laws

Twenty-three states have business opportunity laws. Most of these laws prohibit sales of business opportunities unless the seller gives potential purchasers a pre-sale disclosure document that has first been filed with a designated state agency.

State business opportunity laws typically cover every imaginable type of business opportunity that might be offered. If a business opportunity seller is not required to provide pre-sale disclosures by the Franchise Rule, these disclosures will almost always be required by the laws of the states listed below.

The disclosures required by state business opportunity laws differ, and usually provide more abbreviated information than the Franchise Rule requires. However, most of these laws provide important rights and remedies for business opportunity investors, including required security bonds to cover investor losses.

If you are considering purchasing a work-at-home or other business opportunity, and reside in a state with a business opportunity law, we encourage you to find out more about the protection provided by your state statute before you invest.

State Government Agencies

  • California (filing required) Attorney General's Office Public Inquiry Unit P.O. Box 944255 Sacramento, CA 94244-2550 Toll-free in California only (800) 952-5225 Out-of-state callers (916) 322-3360 E-Mail: piu@doj.ca.gov
  • Connecticut (filing required) Department of Banking Securities Division 260 Constitution Plaza Hartford, CT 06103 Phone: (860) 240-8230 Toll-free: 800-831-7225 Fax: 860-240-8295 Web site: http://www.state.ct.us/dob E-mail: sylvia.morgan@po.state.ct.us
  • Florida (filing required) Dept. Agri. & Consumer Services Room 110 - Mayo Building Tallahassee, FL 32301 (850) 488-2221 (800) 342-2176 (in-state only)
  • Georgia (no filing required) Office of Consumer Affairs No. 2 - Martin Luther King Dr. Plaza Level, East Tower Atlanta, GA 30334 (404) 656-3790
  • Illinois (filing required) Illinois Securities Department Lincoln Tower 520 S. Second St. Suite 200 Springfield, IL 62701 (217)782-2256
  • Indiana (filing required) Consumer Protection Division Attorney General's Office 219 State House Indianapolis, IN 46204 (317) 232-6331
  • Iowa (filing required) Securities Bureau Second Floor Lucas State Office Building Des Moines, IA 50319 (515) 281-4441
  • Kentucky (filing required) Attorney General's Office Consumer Protection Division 209 St. Clair Frankfort, KY 40601 (502) 573-2200
  • Louisiana (bond filing req'd) Office of the Attorney General Consumer Protection Division 2610-A Woodale Blvd. Baton Rouge, LA 70804 (504) 342-7900
  • Maine (filing required) Banking Bureau Securities Division State House - Station 121 Augusta, ME 04333 (207) 624-8551
  • Maryland (filing required) Attorney General's Office Securities Division 200 St. Paul Pl. - 20th Floor Baltimore, MD 21202 (301) 576-6360
  • Michigan (notice required) Consumer Protection Division Dept. of the Attorney General 670 Law Building Lansing, MI 48913 (517) 373-7117
  • Minnesota (filing required) Department of Commerce Registration Division 133 East 7th Street St. Paul, MN 55101 (651) 296-6328
  • Nebraska (filing required) Dept. of Banking & Finance P.O. Box 95006 Lincoln, NE 68509 (402) 471-2171 or (402) 471-3445
  • New Hampshire (filing required) Attorney General's Office Consumer Protection Div. State House Annex Concord, NH 03301 (603) 271-3641
  • North Carolina (filing required) Department of Justice Consumer Protection Division P.O. Box 629 Raleigh, NC 27602 (919) 733-3924
  • Ohio (no filing required) Attorney General's Office Consumer Fraud & Crime Section 25th Floor, State Office Tower 30 East Broad Street Columbus, OH 43266-0410 (614) 466-8831 800-282-0515 (in-state only)
  • Oklahoma (filing required unless exempt) Oklahoma Department. of Securities Suite 860, First National Center 120 N. Robinson Oklahoma City, OK 73102 (405) 280-7700 (voice) (405) 280-7742 (fax) Internet Site: http://www.securities.state.ok.us
  • South Carolina (filing required) Secretary of State's Office P.O. Box 11350 Columbia, SC 29211 (803) 734-2169
  • South Dakota (filing required) Division of Securities 910 E. Sioux Avenue Pierre, SD 57501 (605) 773-4013
  • Texas (filing required) Secretary of State's Office Statutory Documents Section P.O. Box 13563 Austin, TX 78711 (512) 475-1769
  • Utah (filing required) Consumer Protection Division 160 East 300 South Salt Lake City, UT 84111 (801) 530-6601
  • Virginia (no filing required) Consumer Affairs Office 101 North 8th Street Richmond, VA 23219 (804) 786-0594 (800) 451-1525 (in-state only)
  • Washington (filing required) Department of Financial Institutions Securities Division P.O. Box 9033 Olympia, WA 98507-9033 (206) 753-6928

Next Steps

If you are considering a business opportunity or franchisee, know the laws and your state's requirements. Consult with a business law attorney in your area to learn more.

© 2021, Banking27