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DBO Urges Securities/Franchise Filers To Use DocQNet

In the plethora of notifications concerning the Covid-19 (coronavirus) issued various government agencies, this one from the California Department of Business Oversight could easily be overlooked.  The gist of the DBO's message is for securities and franchise filers to use the department's online portal - DocQNet.  The DBO also advises:

"For paper filings eligible for automatic effectiveness, the Department requests that filers acknowledge in their transmittal letter a waiver of automatic effectiveness to avoid the issuance of a stop order preventing automatic effectiveness in California and to acknowledge that their application will be made effective on the date designated by Department order. Additionally, to provide greater flexibility for users, the following procedures are effective immediately:

    • The Department will accept documents filed on DocQNet that are signed electronically using e-signature software, such as DocuSign, in which case notarization of signatures will not be required.
    • Through June 30, 2020, the Department will waive the additional $225.00 filing fee for franchise renewals that are filed after the franchise registration has lapsed."

Finally, what would a government notification be without a warning?  The DBO's notice ends with this caution:  "These temporary accommodations do not change any existing laws or regulations and are subject to change or withdrawal."

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Department of Business Oversight

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