553.21 Registration requirement. No person may sell in this state any franchise unless the franchise has been registered under this chapter or is exempted under s. 553.23, 553.235 or 553.25.
History: 1971 c. 241; 1981 c. 54 ss. 1, 32; 1987 a. 381; 1989 a. 56 s. 259; 1995 a. 364.
A franchisor who illegally sold a franchise had no right to set off the value of “benefits conferred" upon the franchisee against the franchisor's liability for its illegal actions. Hiltpold v. T-Shirts Plus, Inc. 98 Wis. 2d 711, 298 N.W.2d 217 (Ct. App. 1980).
Failure to register an offer of franchises under this section affords only an action for rescission and does not add any additional rights over what a plaintiff has under the law of equity. Lulling v. Barnaby's Family Inns, Inc. 499 F. Supp. 1353 (1980).
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 553 - Wisconsin franchise investment law.
553.21 - Registration requirement.
553.23 - Private franchisee and subfranchisor sales exempted.
553.235 - Experienced franchisee exempt transactions.
553.24 - Exemption proceedings.
553.25 - Exemption by division.
553.26 - Registration by notification.
553.27 - General registration provisions; offering circular; consent to service of process.
553.28 - Denial, suspension or revocation of registrations.
553.31 - Amendment to registration statement.
553.41 - Fraudulent and prohibited practices.
553.51 - Civil liability; sale in violation.
553.55 - Investigations and subpoenas.
553.56 - Hearings and judicial review.
553.57 - Enforcement of criminal penalties.
553.58 - Rules, forms and orders.
553.60 - Miscellaneous powers.
553.605 - Administrative assessments; investor education.
553.74 - Open records; publication.
553.75 - Administrative files and opinions.