California Corporations Code

§ 31104

CORP § 31104Div. 5 · Title 4 · Part 2 · Ch. 1

Statute text

There shall be exempted from the provisions of Chapter 2 (commencing with Section 31110) of this part the offer and sale of a franchise if the franchisor:

(a)Is a petroleum corporation or distributor who is a wholesale distributor or marketer of petroleum products; doing business continuously for the past five years and who does not require an advance of funds in the nature of a fee or lease for such franchise agreements; not engaged in the production or the refining of petroleum; and

(b)Complies with the provisions of subdivisions (c) and (d) of Section 31101.

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Legislative history

Amended by Stats. 1991, Ch. 379, Sec. 1.