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ARTICLE · 29 FEBRUARY 2016

Regulatory Update: Maryland Changes Exemption Filing Rules!

Fox Rothschild LLP
Fox Rothschild LLP
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Other than the Form F-1 and an applicant's cover letter, if an applicant chooses to include a cover letter, no paper documents should be filed as part of a notice of claim of exemption.

United StatesCorporate/Commercial Law

 Last Friday, the Maryland Office of the Attorney General issued an interpretative opinion/no-action position allowing franchisors to file notice of claims of exemption under the Maryland Franchise Registration and Disclosure Law on CD-ROM without including paper copies. The new procedure goes into effect on March 1st. According to the state, "allowing franchisors to file notices of claims of exemption on CD-ROM. . . simplifies the filing procedures for those franchisors, reduces costs and storage requirements for filers and the Securities Division, and saves environmental resources. In addition, these streamlined procedures do not compromise the Securities Division's review or recordkeeping functions and have no impact on prospective franchise investors."

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