More and more states are launching online portals allowing franchise systems to file initial registrations, exemptions, renewals and amendment applications electronically. The Indiana Secretary of State, Securities Division launched the Indiana Securities Portal exactly one year ago. According to the Indiana Division, the implementation has been very successful and the feedback over the past year has been very positive. As a result, the Division decided that the portal will be the sole filing mechanism for a number of filings reviewed by the Division beginning in the new year.
Mark your calendars! Effective January 1, 2020, franchise exemption requests and registration registrations and all amendments, supplemental materials and associated payments will only be accepted electronically through the Indiana portal. Any filing, amendment, supplemental material or associated payment received outside of the portal after 1/1/2020 will be returned to filer with instructions to use the portal. Questions about this new procedure can be directed to the Securities Division here.
Indiana joins Minnesota, Rhode Island, Utah, Washington and Wisconsin as the list of states that accept or require online filings for franchise registrations, renewals and amendments. Many of these states, like Washington, concluded that eliminating the need to make any paper or other physical submissions conserves time and resources of the applicant and the division.
If you have not yet made the switch to paperless in Indiana, then be sure to notify the paralegals, attorneys and staff tasked with preparing and submitting these filings. Renewal seasons is right around the corner!