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3123
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MARVIN MANDEL, Governor
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(7) A RECENT FINANCIAL STATEMENT OF THE
FRANCHISOR, TOGETHER WITH A STATEMENT OF ANY MATERIAL
CHANGES IN THE FINANCIAL CONDITION OF THE FRANCHISOR FROM
THE DATE WHEN THE STATEMENT WAS ISSUED.
THE COMMISSIONER BY RULE OR REGULATION MAY PRESCRIBE
(I) THE FORM AND CONTENT OF FINANCIAL STATEMENTS REQUIRED
UNDER THIS LAW, (II) THE CIRCUMSTANCES UNDER WHICH
CONSOLIDATED FINANCIAL STATEMENTS ARE FILED, AND (III)
THE CIRCUMSTANCES UNDER WHICH FINANCIAL STATEMENTS ARE
AUDITED BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS OR
PUBLIC ACCOUNTANTS.
(8) A COPY OF THE TYPICAL FRANCHISE CONTRACT OR
AGREEMENT PROPOSED FOR USE OR IN USE IN THIS STATE.
(9) A STATEMENT OF THE FRANCHISE FEE CHARGED, THE
PROPOSED APPLICATION OF THE PROCEEDS OF THE FEE BY THE
FRANCHISOR AND THE FORMULA BY WHICH THE AMOUNT OF THE FEE
IS DETERMINED IF THE FEE IS NOT THE SAME IN ALL CASES.
(10) A STATEMENT DESCRIBING ANY PAYMENTS OR FEES
OTHER THAN FRANCHISE FEES THAT THE FRANCHISEE OR
SUBFRANCHISOR IS REQUIRED TO PAY TO THE FRANCHISOR,
INCLUDING ROYALTIES AND PAYMENTS OR FEES WHICH THE
FRANCHISOR COLLECTS IN WHOLE OR IN PART ON BEHALF OF A
THIRD PARTY OR PARTIES.
(11) A STATEMENT OF THE CONDITIONS UNDER WHICH THE
FRANCHISE AGREEMENT MAY BE TERMINATED OR RENEWAL REFUSED,
OR REPURCHASED AT THE OPTION OF THE FRANCHISOR.
(12) A STATEMENT AS TO WHETHER, BY THE TERMS OF THE
FRANCHISE AGREEMENT OR BY OTHER DEVICE OR PRACTICE, THE
FRANCHISEE OR SUBFRANCHISOR IS REQUIRED TO PURCHASE FROM
THE FRANCHISOR OR HIS DESIGNEE SERVICES, SUPPLIES,
PRODUCTS, FIXTURES OR OTHER GOODS RELATING TO THE
ESTABLISHMENT OR OPERATION OF THE FRANCHISE BUSINESS,
TOGETHER WITH A DESCRIPTION OF THESE.
(13) A STATEMENT AS TO WHETHER, BY THE TERMS OF THE
FRANCHISE AGREEMENT OR OTHER DEVICE OR PRACTICE, THE
FRANCHISEE IS LIMITED IN THE GOODS OR SERVICES OFFERED BY
HIM TO HIS CUSTOMERS.
(14) A STATEMENT OF THE TERMS AND CONDITIONS OF ANY
FINANCING ARRANGEMENTS WHEN OFFERED DIRECTLY OR
INDIRECTLY BY THE FRANCHISOR OR HIS AGENT OR AFFILIATE.
(15) A STATEMENT OF ANY PAST OR PRESENT PRACTICE OR
OF ANY INTENT OF THE FRANCHISOR TO SELL, ASSIGN OR
DISCOUNT TO A THIRD PARTY ANY NOTE, CONTRACT OR OTHER
OBLIGATION OF THE FRANCHISEE OR SUBFRANCHISOR IN WHOLE OR
IN PART.
(16) A COPY OF ANY STATEMENT OF ESTIMATED OR
PROJECTED FRANCHISEE EARNINGS PREPARED FOR PRESENTATION
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