• State Business Opportunity Laws Can Save Your Butt
Posted by Tom Harnish on 2nd May 2008
Twenty-six states have ‘business opportunity’ laws to protect you from those idiots that claim you can make thousands of dollars while you sleep. The laws prohibit the sale of business opportunities unless you’re given a pre-sale disclosure document that must be filed with a designated state agency.
They 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 FTC Franchise and Business Opportunity Rule, then these disclosures will almost always be required by the laws of the states listed below. If you live somewhere else take a look at one of the other states laws to see what questions you should ask.
The disclosures required by state business opportunity laws differ somewhat, and typically they provide more abbreviated information than the FTC’s Rule requires. However, most of these laws provide you important rights and remedies, including required security bonds to cover investor losses. If the opportunity you’re looking at can’t be verified with a state agency or the FTC, run don’t walk to the nearest exit.
If you are considering purchasing a work-at-home or other business opportunity, and live in a state with a business opportunity law, find out more about the protection provided by your state statute before you invest.
Alaska, California,Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky,
Louisiana, Maine, Maryland, Michigan, Minnesota, Nebraska, New Hampshire, North Carolina,
Ohio, Oklahoma, South Carolina, South Dakota, Texas, Utah, Virginia, Washington, Wisconsin
Alaska (filing required)
Attorney General’s Office
Commercial and Fair Business Section
1031 W. 4th Avenue, Suite 200
Anchorage, Alaska 99501
(907) 269-5200
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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
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Department of Banking
Securities Division
260 Constitution Plaza
Hartford, CT 06103
Phone: (860) 240-8230
Toll-free: (800) 831-7225
Fax: (860) 240-8295
Website: http://www.state.ct.us/dob
E-mail: marcelle.groves@po.state.ct.us
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Dept. Agri. & Consumer Services
407 S. Calhoun St.
Finance & Accounting Section
Tallahassee, FL 32301
(850) 488-2221
(800) 342-2176 (FL only)
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Office of Consumer Affairs
No. 2 - Martin Luther King Dr.
Plaza Level, East Tower
Atlanta, GA 30334
(404) 656-3790
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Illinois Securities Department
Lincoln Tower
520 S. Second St. Suite 200
Springfield, IL 62701
(217)782-2256
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Indiana Office of Attorney General
Consumer Protection Division
302 West Washington Street
IGCS 5th Floor
Indianapolis, IN 46204
(317) 232-6330
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Securities Bureau
Second Floor
Lucas State Office Building
Des Moines, IA 50319
(515) 281-4441
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Office of the Attorney General
Office of Consumer Protection
1024 Capital Center Drive
Frankfort, KY 40601
(502) 573-2200 NOTE: DOESN’t Work
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Office of the Attorney General
Consumer Protection Section
1885 3rd St.
Baton Rouge, LA 70802
(225) 326-6460
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Banking Bureau
Securities Division
State House - Station 121
Augusta, ME 04333
(207) 624-8551
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Attorney General’s Office
Securities Division
200 St. Paul Pl. - 20th Floor
Baltimore, MD 21202
(301) 576-6360
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Consumer Protection Division
Dept. of the Attorney General
PO Box 30213
Lansing, MI 48909
(517) 373-7117
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Department of Commerce
Registration Division
133 East 7th Street
St. Paul, MN 55101
(651) 296-6328
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Dept. of Banking & Finance
Commerce Court
1230 “O” Street, Suite 400
PO Box 95006
Lincoln, NE, 68509-5006
1-877-471-3445
Website: http://www.ndbf.org/
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New Hampshire (filing required)
Attorney General’s Office
Consumer Protection Div.
State House Annex
Concord, NH 03301
(603) 271-3641
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North Carolina (filing required)
North Carolina Department of the Secretary of State
P.O. Box 29622
Raleigh, NC 27626-0622
(919) 807-2000
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Attorney General’s Office
Consumer Protection Section
25th Floor, State Office Tower
30 E. Broad Street - 14th Floor
Columbus, OH 43215
(614) 466-8831
800-282-0515 (in-state only)
Website: http://www.ag.state.oh.us
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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)
Website: http://www.securities.ok.gov
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South Carolina (filing required)
Secretary of State’s Office
P.O. Box 11350
Columbia, SC 29211
(803) 734-2169
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South Dakota (filing required)
South Dakota Division of Securities
445 E. Capitol Ave.
Pierre, SD 57501
(605) 773-4823
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Secretary of State’s Office
Statutory Documents SectionP.O. Box 12887
Austin, TX 78711-2887
(512) 475-1769
Website: http://www.sos.state.tx.us/statdoc/statforms.shtml#BOAF
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Consumer Protection Division
160 East 300 South
Salt Lake City, UT 84111
(801) 530-6601
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Consumer Affairs Office
101 North 8th Street
Richmond, VA 23219
(804) 786-0594
(800) 451-1525 (in-state only)
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The Department of Financial Institutions
Securities Division
P.O. Box 9033
Olympia, WA 98507-9033
Voice: (360) 902- 8760
Fax (360) 902-0524
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Wisconsin Department of Agriculture
Trade and Consumer Protection
P.O. Box 8911
Madison, WI 53708-8911
(800) 422-7128
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Posted in Cash Management, Find Work At Home, Freelance Jobs, Grants, Telework Legislation, Uncategorized, Work At Home | 2 Comments »