Illinois General Assembly - Illinois Compiled Statutes

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815 ILCS 705/7

(815 ILCS 705/7) (from Ch. 121 1/2, par. 1707)

Sec. 7.

Sale by franchisee and extension or renewal of existing
franchise.

There shall be exempted from the provisions of Sections 5, 10,
11, 13 and 15 of this Act the offer or sale of a franchise by a franchisee
for its own account if the sale is not effected by or through a franchisor.
 A sale is not effected by or through a franchisor merely because a
franchisor has a right to approve or disapprove a different franchisee or
requires payment of a reasonable transfer fee or requires the new franchisee to execute a franchise agreement on terms not materially different from the existing franchise agreement.

There shall be exempted from the provisions of Sections 5, 10, 11, 13 and
15 of this Act the extension or renewal of an existing franchise or the
exchange or substitution of a modified or amended franchise agreement where
there is no interruption in the operation of the franchise business by the
franchisee.

(Source: P.A. 96-648, eff. 10-1-09.)