Retail Franchise Act; replaces references to grants of franchises with sales of franchises. (HB2086)
Introduced By
Del. Bob Purkey (R-Virginia Beach)
Progress
√ |
Introduced |
√ |
Passed Committee |
√ |
Passed House |
√ |
Passed Senate |
√ |
Signed by Governor |
√ |
Became Law |
Description
Virginia Retail Franchise Act. Replaces references to "grants" of franchises with "sales" of franchises in order to conform Virginia's forms with the terminology used by the Federal Trade Commission and the North American Securities Administrator's Association, Inc. The provision stating that the Virginia Retail Franchise Act applies to grants and offers to grant franchises on and after July 1, 1972, is repealed. The measure is emergency legislation to take effect upon passage. Amends § 13.1-559 (“Definitions; applicability of chapter.”), § 13.1-560 (“Registration required.”), § 13.1-563 (“Unlawful offers.”), § 13.1-565 (“Voidable franchises.”), § 13.1-566 (“Service of process on nonresident franchisor.”), of the Code of Virginia. View Full Text »
