PERTAINING TO FRANCHISE SALES: Internet offer exempt if: (1) franchisor’s URL address is stated on the cover page of a franchise disclosure document included with an application for state registration, (2) the internet advertising is not directed at any person in the state, (3) the advertisement states that the offer is not directed to residents of the state, (4) the advertisement is not actually directed to any resident of the state, and (5) no franchises are sold in the state until the franchisor obtains state registration.
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