California Corporations Code

§ 31109

CORP § 31109 Effective Sep 10, 2004Div. 5 · Title 4 · Part 2 · Ch. 1

Statute text

Any offer or sale of a franchise that meets all of the following requirements shall be exempt from Chapter 2 (commencing with Section 31110):

(a)Each and every purchaser of the franchise is one of the following:

(1)Any partner, executive officer, or director of the franchisor, or any executive officer of its corporate general partner if the franchisor is a partnership, or any manager if the franchisor is a limited liability company.

…

Legislative history

Added by Stats. 2004, Ch. 458, Sec. 3. Effective September 10, 2004. Operative January 1, 2005, by Sec. 19 of Ch. 458.