Illinois General Assembly - Illinois Compiled Statutes

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815 ILCS 705/10

(815 ILCS 705/10) (from Ch. 121 1/2, par. 1710)

Sec. 10. Registration and Annual Report.

No franchisor may sell or
offer to sell a franchise in this State if (1) the franchisee is domiciled
in this State or (2) the offer of the franchise is made or accepted in this
State and the franchise business is or will be located in this State, unless
the franchisor has registered the franchise with the Administrator by
filing such form of notification and disclosure statement
as required under Section 16.

The registration of a franchise shall become effective on the 21st day after the date of the filing of the required materials,
unless
the Administrator has
denied registration under subdivision (a)(3) of Section 22.

The registration of a franchise shall expire 120 days after the franchisor's fiscal year end. Annually, but not later than one business day before the

registration expires, the franchisor shall file the disclosure statement updated as of
the date of the franchisor's prior fiscal year end.

(Source: P.A. 96-648, eff. 10-1-09.)