David J. Kaufmann Franchise Renewal Season—Beware!
While only a few of the franchise regulating states have begun the administrative proceedings necessary to formally adopt the NASAA Statement of Policy as governing in their jurisdictions, nevertheless you should be aware that every franchise regulating state's examiners will be on the lookout for these now-prohibited franchise agreement provisions.
March 15, 2023 at 11:12 AM
6 minute read
Analysis
It is franchise renewal season, the time when franchisors having a Dec. 31 fiscal year (virtually all of them) must renew their franchise registrations or exemptions by amending their Franchise Disclosure Documents (FDDs) to incorporate their preceding fiscal years' audited financial statements as well as updates to other critical disclosures (new or departed officers and directors/litigation updates/revised financial performance representations/number of franchisees who entered or exited the franchise network).
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