Does the Principal Owner's Statement for Hydrodog require the mailing address of each owner?
Hydrodog Franchise · 2025 FDDAnswer from 2025 FDD Document
- (c) the Principal Owners Statement will completely and accurately describe all of your owners and their interests in you. A copy of our current form of Principal Owners Statement is attached to the Franchise Disclosure Document you were furnished;
- (d) you and your owners agree to revise the Principal Owners Statement as may be necessary to reflect any ownership changes and to furnish such other information about your organization or formation as we may request (no ownership changes may be made without our approval);
Source: Item 23 — RECEIPTS (FDD pages 43–166)
What This Means (2025 FDD)
According to Hydrodog's 2025 Franchise Disclosure Document, the Principal Owners Statement must completely and accurately describe all of the owners and their interests in the company. While the FDD does not explicitly state that the mailing address of each owner is required, it does state that the Principal Owners Statement must completely and accurately describe all of the owners.
Hydrodog requires franchisees to revise the Principal Owners Statement as necessary to reflect any ownership changes and furnish other information about the organization or formation as requested. No ownership changes can be made without Hydrodog's approval. This ensures that Hydrodog maintains current and accurate information about the ownership structure of its franchise locations.
If a franchisee is a business entity, Hydrodog requires that the organizational or governing documents recite that the issuance and transfer of any ownership interests are restricted by the terms of the Franchise Agreement. All certificates and other documents representing ownership interests must bear a legend referring to these restrictions. This provision allows Hydrodog to control and monitor changes in ownership, ensuring compliance with the franchise agreement and maintaining the integrity of the Hydrodog brand.