As of what date is the Exit Franchise Disclosure Document effective in South Dakota?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
The following states have franchise laws that require that the Franchise Disclosure Document be registered or filed with the state, or be exempt from registration: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. This document is effective and may be used in the following states, where the document is filed, registered or exempt from registration, as of the Effective Date stated below:
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the document must be registered or filed with the state, or be exempt from registration in South Dakota. The document is effective and may be used in South Dakota as of the effective date stated below.
While the excerpt indicates that the FDD is effective in South Dakota, it does not provide the specific effective date. The excerpt only mentions that the document is effective as of the 'Effective Date stated below.'
A prospective Exit franchisee should check Exhibit B of the FDD, which is referenced in the document, or directly contact Exit to confirm the exact effective date of the 2025 FDD in South Dakota. Knowing the effective date is crucial to ensure compliance with franchise laws and regulations in that state.