(1) A person who wishes to sell a franchise in this state that is not excluded under s. 553.22 and that is not exempt from registration under s. 553.23, 553.235 or 553.25 shall register the franchise by notification to the division. The notification shall be on a notice form prescribed by the division, which need include only the name of the franchisor or subfranchisor, the name or names under which the franchisor or subfranchisor intends to do business and the franchisor’s or subfranchisor’s principal business address. Nothing other than a copy of the offering circular required under s. 553.27 (4), the consent to service of process required by s. 553.27 (10), if it is not already on file with the division, and the registration fee required under s. 553.72 (1) need accompany the notification. (2) A franchisor may register only one franchise system on each notification. (3) Registration is effective upon receipt of the notification by the division. The notice shall be effective for one year from the date on which the division receives it. (4) Upon receipt of notification, the division shall endorse upon the notice form “received” and the date and shall return a copy to the person who filed the notice form. (4m) A person who has complied with sub. (1) need not file with the division, during the period when the registration is effec- tive, any more information, other than an application or amendment required to be filed under s. 553.31. The division may not require changes in the offering circular filed by the franchisor, subject to the division’s authority to suspend or revoke a registration for any of the causes under s. 553.28.
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