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 AGENCY |
|
California |
Attorney General's |
| Connecticut (filing required) |
Department of Banking |
| Florida (filing required) |
Dept. Agri. & Consumer Services |
| Georgia (no filing required) |
Office of Consumer Affairs |
| Illinois (filing required) |
Illinois Securities Department |
| Indiana (filing required) |
Consumer Protection Division |
| Iowa (filing required) |
Securities Bureau |
| Kentucky (filing required) |
Attorney General's Office |
| Louisiana (bond filing req'd) |
Office of the Attorney General |
| Maine (filing required) |
Banking Bureau |
| Maryland (filing required) |
Attorney General's Office |
| Michigan (notice required) |
Consumer Protection Division |
| Minnesota (filing required) |
Department of Commerce |
| Nebraska (filing required) |
Dept. of Banking & Finance |
| New Hampshire (filing required) |
Attorney General's Office |
| North Carolina (filing required) |
Department of Justice |
|
Ohio (no filing required) |
Attorney General's Office |
| Oklahoma (filing required unless exempt) |
Oklahoma Department. of Securities |
| South Carolina (filing required) |
Secretary of State's Office |
| South Dakota (filing required) |
Division of Securities |
| Texas (filing required) |
Secretary of State's Office |
| Utah (filing required) |
Consumer Protection Division |
| Virginia (no filing required) |
Consumer Affairs Office |
| Washington (filing required) |
Department of Financial Institutions |