On April 8, 2020, the Indiana Secretary of State, Securities Division, announced that it would extend the registration periods for franchisors that are currently set to expire between March 16, 2020 and May 31, 2020. The text of the Securities Commissioner’s Administrative Order No. 20-0012 reads as follows:
The Indiana Secretary of State, Securities Division (“Division”) and Securities Commissioner (“Commissioner”) are issuing this compliance alert to notify registrants of the issuance of administrative Order 20-0012 AO, which grants temporary relief to franchises who have registered by notification with the Division as a result of the COVID-19 outbreak. More information may be found by accessing the full order at the following link: Current Administrative Orders.
Described briefly, Administrative Order 20-0012 AO orders that the effectiveness of any franchise registration with the Division that is set to expire between March 16, 2020, and May 31, 2020, is automatically extended to June 30, 2020. Any renewal filing must be submitted prior to this new extended expiration date and must conform to the requirements of I.C. § 23-2-2.5, et seq.. This order applies only to franchises which have registered with the Division and does not otherwise alter or remove the registration and disclosure requirements set out by of I.C. § 23-2-2.5-9 (2019).
Questions regarding this alert or Administrative Order 20-0012 AO should be directed to securities@sos.in.gov.
Notably, this extension is “automatic” for all franchisors with registrations that expire during the noted period. And, unlike the other states that have provided some relief to franchisors due to the COVID-19 pandemic, this extension not only affects the filing deadline and fees due, but also applies to the registration period itself.
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