California Corporations Code

§ 31521

CORP § 31521 Effective Jan 1, 2025Div. 5 · Title 4 · Part 7

Statute text

(a)A registered franchise broker shall promptly notify the commissioner in writing by an application to amend the registration of any material change in the information contained in the latest Uniform Franchise Broker Disclosure Document filed by the franchise broker.

(b)The commissioner may by rule further define what shall be considered a material change for those purposes, and the circumstances under which an amended Uniform Franchise Broker Disclosure Document must be filed.

(c)The commissioner may issue a stop order pursuant to Section 31522 if the commissioner finds that any of the material changes provided pursuant to this section constitute a failure to comply with any of the provisions of this division or any rule issued by the commissioner pertaining to this division.

Legislative history

Added by Stats. 2024, Ch. 518, Sec. 5. (SB 919) Effective January 1, 2025. Conditionally operative on or after July 1, 2026, pursuant to Sec. 31528