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2009 SESSION

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HB 2086 Retail Franchise Act; replaces references to grants of franchises with sales of franchises.

Introduced by: Harry R. Purkey | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

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. A sale is defined as including every contract or agreement of sale or grant of, contract to sell, or disposition of a franchise or interest in a franchise for value. The measure is emergency legislation to take effect upon passage.


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