Franchisors must complete and file a Seller Assisted Plan Exemption Notice with the Nebraska Department of Banking and Finance and pay a one-time filing fee of $100 prior to offering or selling a franchise in Nebraska when using a “national” Franchise Disclosure Document.
Franchisor’s may also choose to file a “state specific” Franchise Disclosure Document for a filing fee of $100. If using a state specific Franchise Disclosure Document, franchisors will have to add specific content as required by the Nebraska Seller Assisted Marketing Plan Act and provide a list of names and resident addresses of individuals selling the franchise every six months.
Instead of risking potentially costly mistakes, many franchisors look for assistance from an experienced franchise attorney to ensure they comply with Nebraska franchise law and filing requirements.
Under the Nebraska Seller Assisted Plan Exemption Notice, franchisors must submit the completed Seller Assisted Plan Exemption Notice form and send it, along with a filing fee of $100 to:
Nebraska Department of Banking and Finance
1526 “K” Street, Suite 300
PO Box 95006
Lincoln, NE 68508
If filing a Seller Assisted Plan Exemption Notice and using a national Franchise Disclosure Document, Nebraska does not require that a franchisor renew its exemption annually; however, if a franchisor’s address changes then an update must be filed with the state at no additional charge.
If filing a state specific Franchise Disclosure Document, Nebraska requires that franchisors renew the filing annually for a fee of $50.
To make certain that filing requirements are correctly met, several franchisors find it helpful to work with a franchise attorney that is knowledgeable with Nebraska franchise filing requirements. Call today to start franchising your business.