If Bombs Away registers its Disclosure Document in a state, what does this registration entail?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
STATE EFFECTIVE DATES
The following states have franchise laws that require that the Franchise Disclosure Document be registered or filed with the states, or be exempt from registration: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin.
CALIFORNIA ADDENDUM TO DISCLOSURE DOCUMENT
California limited liability companies Code, Section 31125 requires the franchisor to give the franchisee a disclosure document, approved by the Department of Financial Protection and Innovation, 14-days prior to the execution of an agreement or the solicitation of a proposed material modification of an existing agreement.
The registration of this franchise offering by the California Department of Financial Protection and Innovation does not constitute approval, recommendation, or endorsement by the commissioner.
HAWAII ADDENDUM TO DISCLOSURE DOCUMENT
THESE FRANCHISES WILL BE/HAVE BEEN FILED UNDER THE FRANCHISE INVESTMENT LAW OF THE STATE OF HAWAII. FILING DOES NOT CONSTITUTE APPROVAL, RECOMMENDATION OR ENDORSEMENT BY THE DIRECTOR OF COMMERCE AND CONSUMER AFFAIRS OR A FINDING BY THE DIRECTOR OF COMMERCE AND CONSUMER AFFAIRS THAT THE INFORMATION PROVIDED HEREIN IS TRUE, COMPLETE AND NOT MISLEADING.
Source: Item 23 — RECEIPTS (FDD pages 36–117)
What This Means (2024 FDD)
According to the 2024 Bombs Away Franchise Disclosure Document, several states have franchise laws requiring the Franchise Disclosure Document to be registered or filed with the states, or be exempt from registration. These states include California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin.
For example, in California, Section 31125 of the California limited liability companies Code requires Bombs Away to provide a disclosure document approved by the Department of Financial Protection and Innovation to the franchisee 14 days prior to the execution of an agreement. The California Department of Financial Protection and Innovation does not endorse the registration of the franchise offering by the commissioner.
In Hawaii, these franchises will be/have been filed under the Franchise Investment Law of the State of Hawaii. Filing does not constitute approval, recommendation or endorsement by the Director of Commerce and Consumer Affairs or a finding by the Director of Commerce and Consumer Affairs that the information provided is true, complete and not misleading.