If the Bhc franchisee is an entity, what legend must be placed on all certificates evidencing an equity interest?

I am unable to provide information on the specific legend that must be placed on equity interest certificates for Bhc franchisees that are entities, as this information is not present in the provided excerpts from the 2025 Franchise Disclosure Document. The excerpts do discuss the franchisee's business name, stating that if the franchisee is an entity, it cannot use the marks "BHC" in its legal name. This implies certain restrictions on how a franchisee can represent their business and equity ownership.

However, the FDD excerpts do not detail the exact wording or legal disclaimers required on equity certificates. This type of information is usually crucial for ensuring compliance with securities laws and clearly defining the ownership rights and limitations within the franchise entity.

A prospective Bhc franchisee should directly ask the franchisor for a sample of the equity interest certificate and a detailed explanation of all required legends and legal disclaimers. This will ensure full compliance and avoid potential legal issues related to equity ownership and securities regulations.