Exempts the offer of sale of franchises from registration requirements

◆ The sponsor's argument

Why Robert Rolison says this is needed

New York's franchise registration requirements are intended to protect in-state consumers and regulate franchises operating within this state. However, current law may restrict New York-based franchisors from offer- ing franchises in other states until New York registration is approved, even when the franchise will not operate in New York. This creates unnecessary delays and places New York businesses at a competitive disadvantage compared to franchisors domiciled in other states. This legislation clarifies that when a franchise is sold to a person residing outside New York and will not operate in this state, New York registration is not required, Franchisors remain subject to all applicable federal law and the laws of the state where the franchise will operate, while eliminating duplicative regulatory burdens 'and supporting New York-based businesses.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.