State Guide: Business Opportunity Disclosure Laws
A state business opportunity law is a statute regulating the sale of business opportunities to protect buyers from fraudulent investments. These state regulations typically require sellers to provide pre-sale disclosure documents to prospective purchasers before any transactions occur.
Twenty-five 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.
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State Government Agencies
|
State |
Agency |
Address |
Website |
Phone |
|
AK |
Alaska Department of Law, Consumer Protection Unit |
1031 W. Fourth Avenue, Suite 200 Anchorage, AK 99501 |
(907) 269-5200 (888) 576-2529 |
|
|
CA |
CA DOJ – Public Inquiry Unit |
P.O. Box 944255, Sacramento, CA 94244‑2550 |
(800) 952‑5225 |
|
|
CT |
Dept. of Banking – Securities & Business Investments |
260 Constitution Plaza, Hartford, CT 06103‑1800 |
(860) 240‑8180 (800) 831‑7225 |
|
|
FL |
Florida Dept. of Agriculture & Consumer Services |
407 S. Calhoun St., Tallahassee, FL 32399 |
(850) 245‑1040 |
|
|
GA |
Georgia AG – Consumer Protection Division |
40 Capitol Square, SW Atlanta, GA 30334 |
(404) 651‑8600 (800) 869‑1123 |
|
|
HI |
Department of Commerce and Consumer Affairs (DCCA) |
DCCA Business Registration Division P. O. Box 40 Honolulu, Hawaii 96810 |
844-808-3222 |
|
|
IL |
Illinois Securities Department |
421 E. Capitol Ave., 2nd Fl., Springfield, IL 62701 |
(217) 785‑2256 |
|
|
IN |
Indiana AG – Consumer Protection Division |
302 W. Washington St., 5th Fl., Indianapolis, IN 46204 |
(317) 232‑6330 (800) 382‑5516 |
|
|
IA |
Iowa Insurance Division (securities) |
1963 Bell Ave., Suite 100, Des Moines, IA 50315 |
(515) 654‑6600 |
|
|
KY |
Kentucky AG – Office of Consumer Protection |
1024 Capital Center Dr., Ste. 200, Frankfort, KY 40601 |
(502) 696‑5389 |
|
|
LA |
Louisiana AG – Consumer Protection Section |
P.O. Box 94005, Baton Rouge, LA 70804‑9005 |
800‑351‑4889 |
|
|
ME |
Maine Office of Securities |
121 State House Station, Augusta, ME 04333 |
(207) 624‑8593 |
|
|
MD |
Maryland AG – Securities Division |
200 Saint Paul Place, Baltimore, MD 21202 |
(410) 576‑6300 / 6360 |
|
|
MI |
Michigan AG – Consumer Protection Division |
P.O. Box 30213, Lansing, MI 48909‑7713 |
(517) 335‑7599 |
|
|
MN |
Minnesota Dept. of Commerce |
85 7th Pl E, Ste. 500, St Paul, MN 55101 |
(651) 224‑1152 |
|
|
NE |
NebraskaDept. of Banking & Finance – Bureau of Securities |
(402) 471‑3445 (402) 471‑2171 |
||
|
NH |
New Hampshire AG – Consumer Protection & Antitrust Bureau |
33 Capitol St., Concord, NH 03301 |
(603) 271‑3641 |
|
|
NC |
North Carolina DOJ – Consumer Protection Division |
9001 Mail Service Center, Raleigh, NC 27699‑9001 |
(919) 716‑6000 |
|
|
OH |
Ohio AG – Consumer Protection Section |
30 E. Broad St., 14th Fl., Columbus, OH 43215‑3400 |
800‑282‑0515 |
|
|
OK |
Oklahoma Dept. of Securities |
Suite 860, First National Center, 120 N. Robinson, OKC, OK 73102 |
(405) 280‑7700 |
|
|
SC |
South Carolina Secretary of State – Business Opportunities |
1205 Pendleton St., Ste. 525, Columbia, SC 29201 |
(803) 734‑2170 |
|
|
SD |
South Dakota Division of Securities |
124 S. Euclid Ave., 2nd Fl., Pierre, SD 57501 |
(605) 773‑3563 |
|
|
TX |
Texas Secretary of State – Statutory Documents |
P.O. Box 13563, Austin, TX 78711 |
(512) 475‑1769 |
|
|
UT |
Utah Division of Consumer Protection |
160 E 300 S, 2nd Fl., Salt Lake City, UT 84111 |
(801) 530‑6601 |
|
|
VA |
Virginia AG – Consumer Protection Section |
202 N. 9th St., Richmond, VA 23219 |
800‑552‑9963 |
|
|
WA |
Washington DFI – Securities Division |
Main: (360) 902-8760 Toll-free: (877) 746-4334 |
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.
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