What is the name of the California department that must approve the Crab N Spice disclosure document?
Crab_N_Spice Franchise · 2024 FDDAnswer from 2024 FDD Document
California Corporations Code, Section 31125 requires the franchisor to give the franchisee a disclosure document, approved by the Department Of Financial Protection and Innovation, prior to a solicitation of a proposed material modification of an existing franchise.
OUR WEBSITE HAS NOT BEEN REVIEWED OR APPROVED BY THE CALIFORNIA DEPARTMENT OF FINANCIAL PROTECTION AND INNOVATION. ANY COMPLAINTS CONCERNING THE CONTENT OF THIS WEBSITE MAY BE DIRECTED TO THE CALIFORNIA DEPARTMENT OF FINANCIAL PROTECTION AND INNOVATION AT www.dfpi.ca.gov.
Source: Item 23 — RECEIPTS (FDD pages 51–119)
What This Means (2024 FDD)
According to Crab N Spice's 2024 Franchise Disclosure Document, the California Corporations Code requires that the franchisor provide a disclosure document approved by the Department Of Financial Protection and Innovation before soliciting a proposed material modification of an existing franchise.
This means that in California, Crab N Spice must have its franchise disclosure document reviewed and approved by this specific department before making any significant changes to an existing franchise agreement. This requirement aims to protect franchisees by ensuring they receive accurate and complete information about any proposed modifications.
Furthermore, the FDD states that the Crab N Spice website has not been reviewed or approved by the California Department of Financial Protection and Innovation. Any complaints about the website's content can be directed to the California Department of Financial Protection and Innovation at their website, www.dfpi.ca.gov. This disclaimer emphasizes that the department's oversight is limited to the disclosure document itself and not necessarily all of Crab N Spice's promotional materials.