2007 Minnesota Statutes

80C.05 REGISTRATION PROVISIONS.
    Subdivision 1. Signing and verification required. Every application for registration,
including amendments thereto, and annual report shall be signed and verified by the applicant and
by the franchisor and subfranchisor on whose behalf the offering is to be made.
    Subd. 2. Commissioner's powers. The commissioner shall have power to place such
conditions, limitations, and restrictions on any registration as may be necessary to carry out the
purposes of sections 80C.01 to 80C.22. Upon compliance with the provisions of sections 80C.01
to 80C.22 and other requirements of the commissioner, and if the commissioner finds no ground
for denial of the registration, the commissioner shall register the franchise. Registration shall be
by entry in a book called Register of Franchises, which entry shall show the franchise registered
and for whom registered, and shall specify the conditions, limitations, and restrictions upon such
registration, if any, or shall make proper reference to a formal order of the commissioner on file
showing such conditions, limitations, and restrictions. The registration shall become effective
upon issuance by the commissioner of an order for registration.
    Subd. 3. Escrow or impoundment of fees and other funds by commissioner. If
the commissioner finds that the applicant has failed to demonstrate that adequate financial
arrangements have been made to fulfill obligations to provide real estate, improvements,
equipment, inventory, training or other items included in the offering, the commissioner may by
rule or order require the escrow or impoundment of franchise fees and other funds paid by the
franchisee or subfranchisor until no later than the time of opening of the franchise business.
    Subd. 4. Withdrawal due to inactivity. If no activity occurs with respect to an application
for registration for a period of 120 days, the commissioner may by order declare the application
withdrawn.
History: 1973 c 612 s 5; 1996 c 439 art 2 s 17; 2000 c 483 s 42