Revises "Franchise Practices Act."
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill revises the Franchise Practices Act to broaden its application, ensuring it covers a wider range of franchise arrangements, including those without significant sales between the franchisor and franchisee. It strengthens protections for franchisees by prohibiting unreasonable termination practices, restricting excessive fees and damages, and safeguarding their ability to terminate or transfer franchises. The bill also establishes a fiduciary duty for franchisors regarding advertising funds collected from franchisees.
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