What Minnesota statutes and regulations is the Engel & Volkers Minnesota Amendment designed to comply with?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
This Amendment pertains to franchises sold in the State of Minnesota that are subject to the Minnesota franchise registration and disclosure law (the "Act") and is for the purpose of complying with Minnesota statutes and regulations. Signing this Amendment where the jurisdictional requirements of the Act are not met does not subject the parties to the provisions of the Act. Notwithstanding anything which may be contained in the body of the Franchise Agreement to the contrary, the Agreement is amended as follows:
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the Minnesota Amendment to the Engel & Volkers Franchise Agreement is specifically designed to ensure compliance with Minnesota statutes and regulations related to franchise sales. The amendment applies to franchises sold in Minnesota that fall under the jurisdiction of the Minnesota franchise registration and disclosure law, referred to as "the Act."
This amendment clarifies that signing it does not automatically subject the parties to the provisions of the Act if the jurisdictional requirements are not met. This means that if the specific conditions that trigger the applicability of the Minnesota franchise law are not present, the amendment itself won't force those regulations onto the franchise agreement.
In practical terms, this amendment serves as a safeguard, ensuring that Engel & Volkers franchises operating in Minnesota adhere to state-specific legal requirements. It also prevents the unintentional application of these requirements when the jurisdictional prerequisites are not satisfied, providing clarity and legal precision to the franchise agreement within the state of Minnesota.