For Marble Slab Creamery, what constitutes a waiver of notice for a meeting of Members?
Marble_Slab_Creamery Franchise · 2025 FDDAnswer from 2025 FDD Document
- 4.7 Waiver of Notice. When any notice is required to be given to any Member, a waiver thereof in writing signed by the Member entitled to such notice, whether before, at, or after the time stated therein, shall be equivalent to the giving of such notice. Attendance at a meeting shall constitute waiver of notice of the meeting unless the Member at the beginning of the meeting objects to holding the meeting or transacting business at the meeting.
Source: Item 23 — RECEIPT (FDD pages 101–346)
What This Means (2025 FDD)
According to the 2025 Marble Slab Creamery FDD, a Member can waive their right to receive notice for a meeting in two ways. First, a Member can sign a written waiver, either before, during, or after the meeting, which is equivalent to receiving the notice. This provides flexibility, allowing Members to waive notice even if they initially did not receive it.
Second, attending the meeting also constitutes a waiver of notice. However, this waiver is conditional. If a Member attends but objects to holding the meeting or transacting business at the beginning of the meeting, their attendance does not count as a waiver. This protects Members who attend without proper notice but wish to contest the meeting's legitimacy.
This waiver provision is fairly standard in franchise agreements, allowing for efficient operations while protecting the rights of the members to be informed. It balances the need for timely decision-making with the members' right to be properly notified of meetings and their agendas. Prospective Marble Slab Creamery franchisees should understand these conditions to ensure their rights are protected while participating in company governance.