Ill. Admin. Code tit. 14 § 200.116
Current through Register Vol. 48, No. 24, June 14, 2024
A person shall be deemed to be a franchise broker engaged in the business of representing a franchisor in offering for sale or selling a franchise within the meaning of Section 3(21) of the Act, unless otherwise exempt, if such person provides a prospective franchisee with information about specific franchises other than the franchisor's name, address and phone number. The expectation or acceptance of a fee contingent upon a franchise sale shall be considered as evidence of franchise broker status unless such fee results from an isolated transaction as defined in Section 200.202.
Ill. Admin. Code tit. 14, § 200.116
Added at 23 Ill. Reg. 11561, effective September 7, 1999