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.

Next Steps

Contact a qualified business attorney to help you navigate the process of starting a business.

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