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 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to an application for registration for a period of 120 days, the commissioner may by order declare the application withdrawn.
1973 c 612 s 5; 1996 c 439 art 2 s 17; 2000 c 483 s 42; 2022 c 93 art 2 s 35
Structure Minnesota Statutes
Chapters 80B - 81A — Commercial Regulations
Section 80C.02 — Registration Requirement.
Section 80C.04 — Application For Registration.
Section 80C.05 — Registration Provisions.
Section 80C.06 — Public Offering Statement.
Section 80C.07 — Amendment Of Registration.
Section 80C.08 — Annual Report.
Section 80C.10 — Books, Records And Accounts.
Section 80C.11 — Opinions, Appraisals, And Reports.
Section 80C.12 — Denial, Suspension Or Revocation Of Registrations Or Exemptions.
Section 80C.13 — Prohibited Practices.
Section 80C.14 — Unfair Practices.
Section 80C.144 — Exempt Motor Fuel Franchises; Alternative Compliance.
Section 80C.145 — Motor Fuel Franchises; Right Of Survivorship.
Section 80C.146 — Elimination Of Service Bays Prohibited.
Section 80C.147 — Change In Ownership.
Section 80C.16 — Enforcement; Penalties And Remedies.
Section 80C.17 — Civil Liability.
Section 80C.18 — Administrative Pronouncements.
Section 80C.19 — Scope Of Sections 80c.01 To 80c.22.
Section 80C.20 — Service Of Process.