(1) (a) Any franchise exempt from this chapter pursuant to Subsection 13-15-2(1)(b)(iii) shall, prior to offering for sale or selling a franchise to be located in this state or to a resident of this state, file with the division a notice that the franchisor is in substantial compliance with the requirements of the Federal Trade Commission rule found at Title 16, Chapter I, Subchapter d, Trade Regulation Rules, Part 436, Disclosure Requirements and Prohibitions Concerning Franchising and Business Opportunity Ventures, together with a filing fee determined by the department pursuant to Section 63J-1-504, not to exceed $100. (b) The notice shall state: (i) the name of the applicant; (ii) the name of the franchise; (iii) the name under which the applicant intends to or does transact business, if different than the name of the franchise; (iv) the applicant's principal business address; and (v) the applicant's federal employer identification number.

(a) Any franchise exempt from this chapter pursuant to Subsection 13-15-2(1)(b)(iii) shall, prior to offering for sale or selling a franchise to be located in this state or to a resident of this state, file with the division a notice that the franchisor is in substantial compliance with the requirements of the Federal Trade Commission rule found at Title 16, Chapter I, Subchapter d, Trade Regulation Rules, Part 436, Disclosure Requirements and Prohibitions Concerning Franchising and Business Opportunity Ventures, together with a filing fee determined by the department pursuant to Section 63J-1-504, not to exceed $100.

(b) The notice shall state: (i) the name of the applicant; (ii) the name of the franchise; (iii) the name under which the applicant intends to or does transact business, if different than the name of the franchise; (iv) the applicant's principal business address; and (v) the applicant's federal employer identification number.

(i) the name of the applicant;

(ii) the name of the franchise;

(iii) the name under which the applicant intends to or does transact business, if different than the name of the franchise;

(iv) the applicant's principal business address; and

(v) the applicant's federal employer identification number.

(2) (a) The initial exemption granted under this section is for a period of one year from the date of filing the notice. (b) The exemption may be renewed each year for an additional one-year period upon filing a notice for renewal and paying a renewal fee determined pursuant to Section 63J-1-504, not to exceed $100.

(a) The initial exemption granted under this section is for a period of one year from the date of filing the notice.

(b) The exemption may be renewed each year for an additional one-year period upon filing a notice for renewal and paying a renewal fee determined pursuant to Section 63J-1-504, not to exceed $100.

(3) The division may make rules to implement this section.