reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 9 - Legend Requirement › Section 280.500 - Legend Requirement

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The certificates representing all securities of the capital
					 access company sold to "accredited investors" for the purposes of providing
					 capital to small business firms shall bear on their face a legend prominently
					 stamped or printed thereon and in capital letters of not less than 10 point
					 size, reading as follows:
"THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE NOT
					 REDEEMABLE AND MAY BE TRANSFERRABLE ONLY TO ACCREDITED INVESTORS AS DEFINED IN
					 SECTION 28031 OF THE CORPORATIONS
					 CODE."
1. New
					 article 9 (section
					 280.500) and section filed
					 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
Note: Authority cited: Section
						25951,
						Corporations Code. Reference: Sections
						28200(b) and
						(d) and
						28031,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 10 - Reports to the Commissioner › Section 280.600 - Financial Statements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Whenever pursuant to these rules, or pursuant to an order or request of the
				  Commissioner pursuant to the Capital Access Company Law, a financial statement
				  or other report is required to be audited or be accompanied by the opinion of a
				  certified public accountant or public accountant, such accountant shall be
				  independent of the licensee, as determined in accordance with Section
				  602.02 of Financial Reporting
				  Release Number 1 issued by the Securities and Exchange Commission.
(b) Except as provided in subsection (c),
				  financial statements of a licensed capital access company required pursuant to
				  these rules must be on a combining basis with an affiliate, if the licensed
				  capital access company or such affiliate if the following conditions exist:
(1) The affiliate controls, is controlled by,
				  or is under common control with, the licensed capital access company, either
				  directly or indirectly, and
(2) The
				  licensed capital access company or the affiliate is substantially dependent,
				  either directly or indirectly, upon the other for services or
				  revenue.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 10 - Reports to the Commissioner › Section 280.601 - Change of Independent Accountant

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever the filing of financial statements required
					 pursuant to Section
					 28501 are to be reported upon or
					 certified by an accountant other than the accountant certifying the licensee's
					 most recent filing, the licensee must furnish the Commissioner with a separate
					 letter stating whether in the eighteen (18) months preceding the engagement of
					 the new accountants there was any disagreement with the former accountants on
					 any matter of accounting principles or practices, financial statement
					 disclosure or auditing procedures, which such disagreement if not resolved to
					 the satisfaction of the former accountants would have caused him to make
					 reference to the subject matter of such disagreement in his opinion or report.
					 This letter must be verified by a principal officer of the licensee. The
					 licensee shall also request the former accountants to furnish them with a
					 letter addressed to the Commissioner stating whether he or she agrees with the
					 statements contained in the letter of the licensee and, if not, stating the
					 respects in which he or she does not agree. The notification by the licensee
					 along with the former accountant's letter, if necessary, must be furnished to
					 the Commissioner within 45 days of the engagement of the new
					 accountants.
1. New
					 section filed 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
Note: Authority cited: Sections
						28500
						and
						28951,
						Corporations Code. Reference: Section
						28501,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 10 - Reports to the Commissioner › Section 280.602 - Interim Reports

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Every capital access company shall file a report within 15 days from a
				  determination that it has negative working capital or that its tangible net
				  worth is reduced by 120% of its minimum tangible net worth as specified in
				  Corporations Code Section
				  28152.
				  See also Rule 280.450(g). The report shall include the capital access company's
				  most recent financial statements prepared as of that month.
(b) The report required by subsection (a)
				  shall be prepared as of a date within the 15-day period set forth in subsection
				  (a). Additional reports shall be filed in the same form within 10 days of the
				  close of each monthly accounting period until three consecutive months have
				  elapsed in which the conditions specified in subsection (a) that required the
				  filing of the report under subsection (a) no longer exist.
1. New
					 section filed 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
Note: Authority cited: Section
						28951,
						Corporations Code. Reference: Section
						28502, Corporations
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 10 - Reports to the Commissioner › Section 280.603 - Report of Civil, Criminal or Disciplinary Action

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A capital access company shall
				  immediately report in writing to the Commissioner any civil, criminal or
				  disciplinary actions filed against the capital access company, or any of its
				  officers, directors, partners, members, employees, persons controlling 10
				  percent or more of the ownership interests, trustees, or investment advisers or
				  affiliates.
(b) For purposes of
				  this rule, "employee" means an individual with access to or responsibility for
				  any funds held by the capital access company.
1. New
					 section filed 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
Note: Authority cited: Section
						28951,
						Corporations Code. Reference: Section
						28502,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 10 - Reports to the Commissioner › Section 280.604 - Report of Defalcation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  A licensee shall immediately report to the Commissioner any defalcation,
				  embezzlement or theft made, or reasonably believed by the company to have been
				  made, by any of its officers, directors, partners, members, employees or
				  persons controlling 10 percent or more of the ownership interests, trustees,
				  investment advisers, or affiliates.
(b) Employee shall have the same meaning as
				  in Rule 280.603(b).
1. New
					 section filed 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
Note: Authority cited: Section
						28951,
						Corporations Code. Reference: Section
						28502,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 10 - Reports to the Commissioner › Section 280.605 - Verification of Reports

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Attached to each financial report filed pursuant to these
					 rules shall be a verification that, to the best knowledge and belief of the
					 person making the verification,
(1)
				  the financial statements and supporting schedules are true and correct,
				  and
(2) no partner, officer,
				  member, employee, trustee or director, thereof has any proprietary interest in
				  any account classified as that of an investor. If the capital access company is
				  a partnership, the verification shall be made by a general partner; if by a
				  corporation, by a duly authorized officer; by a trust, a trustee; by a limited
				  liability company, by a member.
1. New
					 section filed 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
Note: Authority cited: Sections
						28502
						and
						28951,
						Corporations Code. Reference: Section
						28502,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 11 - Books and Records › Section 280.651 - Records to be Preserved by Capital Access Companies

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Every licensed capital access company
				  shall:
(1) Preserve permanently, for the first
				  two years in a readily accessible place, all books and records required to be
				  made pursuant to paragraphs (1) through (6) of subsection (a) of Rule
				  280.650;
(2) Preserve for a period
				  of not less than five years from the end of the fiscal year in which any
				  transactions occurred, the first two years in an easily accessible place, all
				  books and records required to be made pursuant to paragraphs (7) through (12)
				  of Rule 280.650 and all vouchers, memoranda, correspondence, checkbooks, bank
				  statements, cancelled checks, reconciliations, cancelled stock certificates,
				  and other documents required to be maintained by 280.650(a) and not enumerated
				  in Rule 280.650(b);
(3) Preserve
				  for a period of not less than five years from the end of the fiscal year last
				  used, the first two years in an readily accessible place, any advertisement,
				  pamphlet, circular, form letter or other sales literature addressed to or
				  intended for distribution to prospective investors.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 11 - Books and Records › Section 280.652 - Records Prepared or Maintained by Other than Person Required to Maintain and Preserve Them

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) If
				  the records required to be maintained and preserved pursuant to the provisions
				  of Rules 280.650 and 280.651 are prepared or maintained by others on behalf of
				  the capital access company required to maintain and preserve such records, the
				  person required to maintain and preserve such records shall obtain from such
				  other person an agreement in writing to the effect that such records are the
				  property of the person required to maintain and preserve such records and will
				  be surrendered promptly to the Commissioner on request.
(b) In cases where a bank or member of a
				  national securities exchange acts as custodian, transfer agent, or dividend
				  disbursing agent, compliance with this section shall be considered to have been
				  met if such bank or exchange member agrees in writing to make any records
				  relating to such service available upon request and to preserve for the periods
				  prescribed in Rule 280.651 any such records as are required to be maintained by
				  280.650.
1. New
					 section filed 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
Note: Authority cited: Section
						28500,
						Corporations Code. Reference: Sections
						28501(a)
						and
						28501(c),
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 11 - Books and Records › Section 280.653 - Books and Records: Location and Office Hours

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A capital access company shall keep the Commissioner
					 promptly advised at all times of the address or addresses at which the books
					 and records are maintained and, if the office or location hours at the place
					 where the books and records are maintained are other than 8 a.m. to 5 p.m.,
					 Monday through Friday, the hours and days during which the books and records
					 may be reviewed.
1. New
					 section filed 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
Note: Authority cited: Section
						28500,
						Corporations Code. Reference: Sections
						28500
						and
						28503,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 12 - Custody › Section 280.700 - Custody of Securities or Other Similar Investment-Contract

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) No capital
				  access company shall place or maintain any of its securities or similar
				  investments in custody with any person outside the State of
				  California.
(b) No capital access
				  company shall place or maintain any of its securities or similar investments in
				  the custody of any person, except pursuant to a written contract which shall
				  have been approved, by a majority of the board of directors of such capital
				  access company.
(c) The contract
				  shall require that the securities and investments be maintained in accordance
				  with the following:
(1) The securities and
				  similar investments held in such custody shall at all times be individually
				  segregated from the securities and investments of any other person and marked
				  in such manner as to clearly identify them as the property of such capital
				  access company both upon physical inspection thereof and upon examination of
				  the books of the custodian;
(2) The
				  custodian shall have no power or authority to assign, hypothecate, pledge or
				  otherwise to dispose of any such securities and investments, except pursuant to
				  the direction of capital access company and only for the account of such
				  capital access company;
(3) Such
				  securities and investments shall be subject to no lien or charge of any kind in
				  favor of the custodian or any persons claiming through the custodian.
(4) Such securities and investments shall be
				  verified by actual examination at the end of each annual fiscal period by an
				  independent public accountant retained by the capital access company, and shall
				  be examined by an accountant at least one time during each year on an
				  unannounced basis. This unannounced examination must be conducted independent
				  to the annual certified audit. A certificate of such accountant, stating that
				  an examination of such securities has been made, and describing the nature and
				  extent of the examination, shall be filed with the Commissioner within 45 days
				  after each examination. If the accountant notes any material deficiencies
				  during the examination, such deficiencies must immediately be reported to the
				  Commissioner.
(5) Such securities
				  and investments shall, at all times, be subject to inspection by the
				  Commissioner through the Commissioner's employees or
				  agents.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.4 - Commodity Law › Section 290.570 - Notice of Commodity Merchant Transacting Business in this State. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New section
				  filed 1-11-91; operative 2-10-91 (Register 91, No. 10).
2. Editorial
				  correction of printing error (Register 91, No. 17).
3. Change
				  without regulatory effect amending A., adopting h. and i. of form, and amending
				  Instructions filed 1-13-92 pursuant to section
				  100, title 1, California Code of
				  Regulations (Register 92, No. 12).
4. Change without regulatory
				  effect repealing section filed 5-5-97 pursuant to section
				  100, title 1, California Code of
				  Regulations (Register 97, No. 19).
Note: Authority cited: Section
					 29561,
					 Corporations Code. Reference: Section
					 29570,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.4 - Commodity Law › Section 290.571 - Notice of Telephonic Seller of a Commodity or a Commodity Contract. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New section
				  filed 1-11-91; operative 2-10-91 (Register 91, No. 10).
2. Editorial
				  correction of printing error (Register 91, No. 17).
3. Editorial
				  correction inserting inadvertently omitted NOTE (Register 94, No.
				  2).
4. Change without regulatory effect repealing section filed
				  5-5-97 pursuant to section
				  100, title 1, California Code of
				  Regulations (Register 97, No. 19).
Note: Authority cited: Section
					 29561,
					 Corporations Code. Reference: Section
					 29571,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.000 - Section Numbers. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
				  Subchapter 2.6 (§
										310.000,
				  310.002,
				  310.011,
				  310.013,
				  310.111,
				  310.111.1 through
				  310.111.6,
				  310.112,
				  310.113,
				  310.113.1 through
				  310.113.5,
				  310.114,
				  310.114.1 through
				  310.114.3,
				  310.120,
				  310.122,
				  310.122.1,
				  310.123,
				  310.155,
				  310.156,
				  310.156.1,
				  310.156.2,
				  310.210,
				  310.505) filed 1-4-71 as an
				  emergency; designated effective 1-1-71. Certificate of Compliance, Sec.
				  11422.1, Gov. Code, included
				  (Register 71, No. 2).
2. Repealer filed 5-19-89; operative 6-18-89
				  (Register 89, No. 21).
Note: Authority cited for Subchapter 2.6: Sections
					 31111(d),
					 31111(g),
					 31113,
					 31120,
					 31156,
					 31502, and
					 31516 Corporations Code.
					 Reference: Sections
					 31000
					 through
					 31156,
					 Corporations Code. Additional reference: Sections
					 31303,
					 31304
					 and
					 31505,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.002 - General Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The terms defined in Part 1 of the Franchise Investment Law
				  when used in this Subchapter 2.6 shall have the meanings set forth in that law.
				  In addition, the following definitions shall apply in this Subchapter
				  2.6.
(a) "Affiliate" means a person
				controlling, controlled by, or under common control with another
				person.
(b) "Code" means the
				California Corporations Code.
(c)
				"Department" means the Department of Business Oversight (formerly the
				Department of Corporations).
(d)
				"Law" means the Franchise Investment Law.
1. Amendment
				  filed 3-15-83; effective thirtieth day thereafter (Register 83, No.
				  12).
2. Amendment filed 5-19-89; operative 6-18-90 (Register 89, No.
				  21).
3. Editorial correction of NOTE (Register 2001, No.
				  4).
4. Change without regulatory effect amending subsection (c)
				  filed 8-13-2014 pursuant to section
				  100, title 1, California Code of
				  Regulations (Register 2014, No. 33).
Note: Authority cited: Section
					 31502,
					 Corporations Code. Reference: Section
					 31502,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.011 - Payment of Nominal Franchise Fee

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is exempted from the provisions of Chapter 2
				  (commencing with Section
				  31110) of Part 2 of the Law, any
				  offer or sale of a franchise which would be subject to registration solely
				  because the franchise is required to pay, directly or indirectly, a franchise
				  fee which on an annual basis does not exceed the sum of $500.
1. Amendment
				  filed 1-4-72; effective thirtieth day thereafter (Register 72, No.
				  2).
2. Amendment filed 5-19-89; operative 6-18-89 (Register 89, No.
				  21).
3. Editorial correction of NOTE (Register 98, No.
				  32).
4. Amendment filed 6-4-2001; operative 7-4-2001 (Register 2001,
				  No. 23).
5. Editorial correction of HISTORY 4 (Register 2001, No.
				  28).
Note: Authority cited: Sections
					 31110
					 and
					 31502,
					 Corporations Code. Reference: Sections
					 31011,
					 31110,
					 31111,
					 31112,
					 31113,
					 31114,
					 31115,
					 31116,
					 31117,
					 31118,
					 31119,
					 31120,
					 31121,
					 31122,
					 31123,
					 31124,
					 31125,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.011.1 - Purchase Price or Rental of Fixtures, Equipment and Certain Other Articles Utilized and Necessary in Franchised Business

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is exempted from the provisions of Chapter 2
				  (commencing with Section
				  31110) of Part 2 of the Law, any
				  offer or sale of a franchise which would be subject to registration solely
				  because the franchisee by the agreement with the franchisor is obligated to pay
				  in addition to any sums for which the exemption of Section
				  310.011 of these rules is
				  available, a sum of not exceeding $1,000 annually on account of the purchase
				  price or rental of fixtures, equipment or other tangible property to be
				  utilized in, and necessary for, the operation of the franchised business, of
				  the price or rental so charged does not exceed the cost which would be incurred
				  by the franchisee acquiring the item or items from other persons or in the open
				  market.
1. New section
				  filed 2-20-74 as an emergency; effective upon filing. Certificate of Compliance
				  included (Register 74, No. 8).
2. Amendment filed 5-19-89; operative
				  6-18-89 (Register 89, No. 21).
Note: Additional reference: Section
					 31011,
					 Corporations Code. Reference: Sections
					 31011,
					 31110,
					 31111,
					 31112,
					 31113,
					 31114,
					 31115,
					 31116,
					 31117,
					 31118,
					 31119,
					 31120,
					 31121,
					 31122,
					 31123,
					 31124
					 and
					 31125,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.013 - Circulation of Publications in this State

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In determining whether a newspaper or other publication has
				  had more than two-thirds of its circulation outside this State during the past
				  12 months for the purposes of Subdivision (c) of Section
				  31013 of the Code, in the case of
				  a newspaper or magazine which publishes a separate edition circulated in this
				  State which does not carry the same advertising as that of other editions of
				  the same publication, such separate edition shall be considered a separate
				  newspaper or magazine from the other editions of the same publication with
				  respect to any advertisement which is not to be carried in all editions of the
				  newspaper or magazine.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.100 - Exemption for Certain Parent Subsidiary Franchisors. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New section
				  filed 3-17-71 as an emergency; effective upon filing (Register 71, No.
				  12).
2. Certificate of Compliance-section
				  11422.1,
				  Government Code, filed 7-13-71 (Register 71, No. 29).
3. Editorial
				  correction (Register 74, No. 47).
4. Amendment filed 10-6-86;
				  effective thirtieth day thereafter (Register 86, No. 41).
5.
				  Amendment filed 5-19-89 operative 6-18-89 (Register 89, No. 21).
6.
				  Change without regulatory effect repealing section
				  310.100 pursuant to section
				  100 (b) (3),
				  Title 1, California Code of Regulations filed 4-26-90 (Register 90, No.
				  22).
Note: Authority cited: Sections
					 31100
					 and
					 31502,
					 Corporations Code. Reference: Sections
					 31100,
					 31101,
					 31111,
					 31112,
					 31113,
					 31114,
					 31115,
					 31116,
					 31117,
					 31118,
					 31119,
					 31120,
					 31121,
					 31122,
					 31123,
					 31124
					 and
					 31125,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.100.1 - Out of State Sales. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New section
				  filed 3-17-71 as an emergency; effective upon filing (Register 71, No.
				  12).
2. Certificate of Compliance Sec.
				  11422.1, Gov. Code, filed 7-13-71
				  (Register 71, No. 29).
3. Amendment filed 7-20-71 as an emergency;
				  effective upon filing. Certificate of Compliance included (Register 71, No.
				  30).
4. Amendment filed 10-6-86; effective thirtieth day thereafter
				  (Register 86, No. 41).
5. Amendment filed 5-19-89; operative 6-18-89
				  (Register 89, No. 21).
6. Editorial correction of NOTE (Register 98,
				  No. 32).
7. Editorial correction of HISTORY 5 (Register 2001, No.
				  4).
8. Repealer filed 8-5-2002; operative 9-4-2002 (Register 2002,
				  No. 32).
Note: Authority cited: Sections
					 31100
					 and
					 31502,
					 Corporations Code. Reference: Sections
					 31100,
					 31110,
					 31111,
					 31112,
					 31113,
					 31114,
					 31115,
					 31116,
					 31117,
					 31118,
					 31119,
					 31120,
					 31121,
					 31122,
					 31123,
					 31124
					 and
					 31125,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.100.2 - Negotiated Sales

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				General. The offer or sale of a franchise on terms different from the terms of
				the offer registered under Section
				31111,
				31121 or
				31123 of the Law is exempt from
				the requirements of Section
				31110 of the Law, if all of the
				following conditions are met:
(1) The initial
				offer is the offer registered under to Section
				31111,
				31121 or
				31123 of the Law.
(2) When the prospective franchisee receives
				the offering circular, he or she also receives copies of all Notices of
				Negotiated Sale of Franchise filed with the Commissioner within the last 12
				months, if any.
(3) Before selling
				another franchise, the franchisor amends its registered offer to disclose: "The
				terms of Item(s) __________ of this Offering Circular have been negotiated with
				other franchisees. A copy of all Negotiated Sales Notices filed in California
				in the last twelve months is attached as Exhibit __________." This disclosure
				should be made in the UFOC Item that was negotiated or in an appendix to the
				UFOC. This disclosure must be made if the negotiated sale occurred within
				twelve months of the offering being made. An amendment making only this
				disclosure is effective when filed.
(4) The Notice of Negotiated Sale of
				Franchise in the form set forth in subsection (b) is filed with the
				Commissioner within 15 business days after the negotiated sale is
				consummated.
(5) The franchisor
				certifies or declares in an appendix to its application for renewal that all
				notices have been filed with the Commissioner as required by paragraph (a)(4)
				(see Section
				310.122 of these
				rules).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.100.3 - Exemption for Internet Offers

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) There is hereby exempted from the
				provisions of Section
				31110 of the Code as not being
				comprehended within the purposes of the Franchise Investment Law and the
				registration of which is not necessary or appropriate in the public interest or
				for the protection of investors, any communication made through the Internet,
				World Wide Web, or any other similar proprietary or common carrier electronic
				delivery system, of an offer to sell a franchise ("Internet Offer"), provided:
(1) The Internet Offer indicates, directly or
				indirectly, that the franchise is not being offered to the residents of the
				State of California;
(2) The
				Internet Offer is not otherwise directed to any person in California by or on
				behalf of the franchisor or anyone acting with the franchisor's
				knowledge;
(3) No franchises are
				sold in California by or on behalf of the franchisor until the offering has
				been registered under the Franchise Investment Law and declared effective, and
				the Uniform Franchise Offering Circular (UFOC) has been delivered to the
				offeree before the sale and in compliance with the Franchise Investment
				Law.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.100.4 - Negotiated Sales Exempt Under Section 31109.1 of the Corporations Code-Summary Description

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The summary description of each material negotiated term
				  required by Corporations Code Section
				  31109.1(a)(2)(A)
				  shall contain the following content:
___________________________
1.
(a)
				Offering Circular Item Number:
(b)
				Description of Provisions in Currently Registered Offering Circular:
___________________________
___________________________
(c) Description of Change:
___________________________
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.101 - Transactions Exempt Under Section 31101, 31104, 31108, or 31109 of the Corporations Code-Notice of Exemption

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The Notice of Exemption required to be
				filed with the Commissioner of Business Oversight under subdivision (d) of
				Section 31101, subdivision (f) of Section
				31108, or subdivision (e) of
				Section 31109, shall be made on the
				following form:
Department Use Only
						  ___________________________
A. Department of Business
						  Oversight
Fee paid: $___________________________
File No.___________________________
Receipt No. ___________________________
(Insert file number(s) of prior filings with the Department, if
						  any)
STATE OF CALIFORNIA DEPARTMENT OF BUSINESS OVERSIGHT
				  FRANCHISE INVESTMENT LAW NOTICE OF EXEMPTION UNDER SECTION
				  31101,
				  31104,
				  31108, OR
				  31109 CORPORATIONS CODESEE
				  INSTRUCTIONS
B. Exemption for
				which this notice is filed (check one):
( ) Sections
						  31101
( ) Section
						  31104
( ) Section
						  31108
( ) Section
						  31109
C.
				Type of Filing (check one):
( ) Initial notice
$450 fee
( ) Consecutive subsequent
						  notice
$150 fee
( ) Amendment
No fee
D.
				Calendar year for which this notice is filed: __________
1.
(a) Name
				of FILER:
(b) Principal business
				address of FILER: __________
(c)
				The above-named company is filing as a (check one): __________
( ) FRANCHISOR
( ) SUBFRANCHISOR
(d)
				If FILER is a SUBFRANCHISOR, the name and principal business address of the
				FRANCHISOR: __________
(e) Name(s)
				under which FRANCHISOR does business: __________
2. Name and address of agent in California
				authorized to receive service of process: __________ __________
				__________
3. Franchise to be
				offered: __________
(a) Name of franchise or
				subfranchise: __________ Description of franchised business: __________
Type of franchise (check one):
( )
						  Franchise
( ) Subfranchise
(b)
				Name of franchise or subfranchise: __________
Description of franchised business: __________
Type of franchise (check one):
( )
						  Franchise
( ) Subfranchise
4. Name, title, telephone number and business
				address of individual to be contacted by the Department regarding this notice:
Name: __________
Title: __________
Business Address: __________
Telephone: ( ) __________
5. Date of this notice: __________
___________________________
___________________________
Name of Filer
Authorized
						  Signature
___________________________
Printed Name of
						  Signatory
Document OP 18/99-O
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.106 - Transactions Exempt Under Section 31106 of the Corporations Code-Notice of Exemption

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				The Notice of Exemption required to be filed with the Commissioner of Business
				Oversight under subdivision (b) of Section
				31106 of
				the Code shall be made on the following form:
Department Use Only
A. Department of
						  Business Oversight
Fee paid (per Corporations Code
File
						  No.___________________________
Section
						  31500(f)):
						  $___________________________
(Insert file number(s) of
						  prior filings with the Department, if any)
Receipt No. ___________________________
STATE OF CALIFORNIA DEPARTMENT OF BUSINESS
				  OVERSIGHT
FRANCHISE INVESTMENT LAW
NOTICE OF A TRANSACTION EXEMPT UNDER CORPORATIONS CODE
				  SECTION 31106
SEE INSTRUCTIONS
1. Type of Filing (check one):
( ) Initial Notice
$450 Fee
( ) Subsequent Notice
$150 Fee
2.
(a) Name of FILER:
				___________________________
(b)
				Principal business address of FILER: ___________________________
(c) The FILER is filing as a (check one):
( ) FRANCHISOR
( ) SUBFRANCHISOR
(d)
				If FILER is a SUBFRANCHISOR, the name and principal business address of the
				FRANCHISOR: ___________________________
(e) Name(s) under which FRANCHISOR does
				business: ___________________________
3. Name and address of agent in California
				authorized to receive service of process: ___________________________
4. The following subdivision paragraph under
				Corporations Code Section
				31106 applies to this transaction
				(check one):
( ) (a)(1)
( ) (a)(2)
( ) (a)(3)
5. Franchise sold:
(a) Name of franchise or subfranchise:
				___________________________
(b)
				Description of franchised business: ___________________________
(c) Type of franchise (check one):
( ) Franchise
( ) Subfranchise
(d)
				Name of all persons to whom the franchise was sold:
				___________________________
(e)
				Date of sale: ___________________________
6. Name, title, telephone number and business
				address of individual to be contacted by the Department regarding this notice:
Name: ___________________________
Title: ___________________________
Business Address: ___________________________
Telephone: ( ) ___________________________
7. Date of this notice:
				___________________________
___________________________
___________________________
Name of Filer
Authorized
						  Signature
___________________________
Printed Name of
						  Signatory
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.111 - Form of Application

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				All applications for registration under this Law shall be filed upon the
				Uniform Franchise Registration Application as defined in subsection
				(b).
(b) Until June 30, 2008, the
				term "Uniform Franchise Registration Application" means information required
				from the applicant in accordance with either (1) the Uniform Franchise Offering
				Circular ("UFOC") Guidelines, as amended by the North American Securities
				Administrators Association, Inc. on April 25, 1993; or (2) the Uniform
				Franchise Disclosure Document ("UFDD") Guidelines, as adopted by the North
				American Securities Administrators Association, Inc. on June 22, 2007 and
				effective July 1, 2007. On or after July 1, 2008, the term "Uniform Franchise
				Registration Application" means information required from the applicant in
				accordance with the Uniform Franchise Disclosure Document ("UFDD") Guidelines,
				as adopted by the North American Securities Administrators Association, Inc. on
				June 22, 2007 and effective July 1, 2007.
(c) When an application is filed using the
				UFDD, the applicant shall include the required information set forth in Rule
				310.114.1 in appropriate corresponding sections of the UFDD. For purposes of
				Rule 310.114.1 when filing the UFDD, the term "offering circular" shall mean
				"disclosure document" and "UFOC" shall mean "UFDD."
1. Amendment
				  filed 10-18-74 as an emergency; effective upon filing (Register 74, No.
				  42).
2. Certificate of Compliance filed 12-24-74 (Register 74, No.
				  52).
3. Amendment filed 12-24-74; effective thirtieth day thereafter
				  (Register 74, No. 52).
4. Amendment filed 7-20-78; effective
				  thirtieth day thereafter (Register 78, No. 29).
5. Amendment filed
				  11-21-79; designated effective 1-1-80 (Register 79, No. 47).
6.
				  Amendment filed 7-17-81; effective thirtieth day thereafter (Register 81, No.
				  29).
7. Amendment filed 7-27-88; operative 8-26-88 (Register 88, No.
				  32).
8. Editorial correction of printing errors (Register 94, No.
				  2).
9. Amendment filed 4-6-94; operative 5-6-94 (Register 94, No.
				  14).
10. Amendment filed 4-28-2008; operative 4-28-2008 pursuant to
				  Government Code section
				  11343.4
				  (Register 2008, No. 18).
Note: Authority cited: Section
					 31502,
					 Corporations Code. Reference: Sections
					 31110,
					 31111,
					 31114,
					 31122
					 and
					 31125,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.111.1 - Subfranchisors

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
When the person filing the application for registration is a
				  subfranchisor, the application shall also include the same information
				  concerning the subfranchisor as is required from the
				  franchiser.
1. Repealer of
				  Section 310.111.1 and renumbering of
				  Section 310.111.2 to Section
				  310.111.1 filed 11-21-79;
				  designated effective 1-1-80 (Register 79, No. 47). For prior history, see
				  Register 72, No. 29.
Note: Authority cited: Section
					 31502,
					 Corporations Code. Reference: Section
					 31111,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.111.3 - Identification of Persons Affiliated with Franchiser. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
				  filed 11-21-79; designated effective 1-1-80 (Register 79, No.
				  47).
Note: Authority cited: Section
					 31502,
					 Corporations Code. Reference: Section
					 31111,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.111.5 - Other Franchises. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
				  filed 3-17-72 as an emergency; effective upon filing (Register 72, No.
				  12).
2. Certificate of compliance filed 7-14-72 (Register 72, No.
				  29).
3. Repealer filed 11-21-79; designated effective 1-1-80
				  (Register 79, No. 47).
Note: Authority cited: Section
					 31502,
					 Corporations Code. Reference: Section
					 31111,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.111.6 - Cross Reference Sheets. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
				  filed 11-21-79; designated effective 1-1-80 (Register 79, No.
				  47).
2. Editorial correction removing "Specimen Cross Reference
				  Sheet" inadvertently retained after 11-21-79 repeal of section (Register 2010,
				  No. 45).
Note: Authority cited: Section
					 31502,
					 Corporations Code. Reference: Section
					 31111,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.112 - Signing of Application

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An application under this Law shall be signed by an officer
				  or general partner of the applicant or by a person holding a power of attorney
				  for such purposes from the applicant. If signed under a power of attorney, the
				  application shall include a copy of the power of attorney or of the corporate
				  resolution authorizing the person signing to act on behalf of the
				  applicant.
1. Amendment
				  filed 10-28-82; effective thirtieth day thereafter (Register 82, No.
				  44).
2. Amendment filed 7-27-88; operative 8-26-88 (Register 88, No.
				  32).
Note: Authority cited: Section
					 31502,
					 Corporations Code. Reference: Section
					 31112,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.113 - Imposition of Impound

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In a case where 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 impose as a condition to
				  the registration of a franchise offering an impoundment of the franchise fees
				  and other funds paid by the franchisee or subfranchisor until such obligations
				  have been satisfied.
1. Amendment
				  filed 12-28-73 as an emergency; designated effective 1-1-74. Certificate of
				  Compliance included (Register 73, No. 52).
Note: Additional authority cited: Section
					 31502,
					 Corporations Code. Reference: Section
					 31113,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.113.1 - Operation of Impound Condition

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
When an impound condition is imposed in connection with the
				  registration of a franchise offering, one hundred percent of franchisee fees
				  and all other funds paid by the franchisees or subfranchisors for any purpose
				  shall within 48 hours of the receipt of such funds, be placed with the
				  depositary. The funds will be held by the depositary until the Commissioner
				  takes further action pursuant to Section
				  310.113.4 of these rules.
All checks shall be made payable to the
				  depositary.
1. Amendment
				  filed 10-28-82; effective thirtieth day thereafter (Register 82, No.
				  44).
Note: Authority cited: Section
					 31502,
					 Corporations Code. Reference: Section
					 31113,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.113.2 - Purchase Receipts

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
When an impound condition is imposed, the franchiser shall
				  deliver to each franchisee or subfranchisor, a purchase receipt, in the
				  following form: The purchase receipt form shall provide space for at
				  least:
(1) the complete names and
				addresses of the purchaser;
(2) the
				complete name of the individual receiving the payment;
(3) the general location of the franchise
				involved and the total purchase price;
(4) the amount of the payment
				received;
(5) the complete name and
				address of the depositary with whom the payment will be placed; and
(6) the date of the payment. Purchase receipt
				forms shall be consecutively numbered and prepared in triplicate. The original
				copy is to be given to the purchaser. The duplicate copy is to be retained by
				the franchiser. The triplicate copy is to be provided to the depositary along
				with the payment involved.
1. Amendment
				  filed 10-28-82; effective thirtieth day thereafter (Register 82, No.
				  44).
Note: Authority cited: Section
					 31502,
					 Corporations Code. Reference: Section
					 31113,
					 Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.6 - Franchises › Section 310.113.3 - Depositary

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Funds subject to an impound condition shall be placed in a
				  separate trust account with an approved depositary. The depositary shall be a
				  national bank located in California or a California bank or trust company. A
				  written consent of the depositary to act in such capacity shall be filed with
				  the Commissioner.
1. Amendment
				  filed 10-28-82; effective thirtieth day thereafter (Register 82, No.
				  44).
Note: Authority cited: Section
					 31502,
					 Corporations Code. Reference: Section
					 31113,
					 Corporations Code.