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§ 310.113. Imposition of Impound.

10 CA ADC § 310.113Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 10. Investment
Chapter 3. Commissioner of Financial Protection and Innovation (Refs & Annos)
Subchapter 2.6. Franchises
10 CCR § 310.113
§ 310.113. Imposition of Impound.
In a case where the applicant has failed to demonstrate that adequate financial arrangements have been made to fulfill obligations to provide real estate, improvements, equipment, inventory, training or other items included in the offering, the Commissioner may impose as a condition to the registration of a franchise offering an impoundment of the franchise fees and other funds paid by the franchisee or subfranchisor until such obligations have been satisfied.

Credits

Note: Additional authority cited: Section 31502, Corporations Code. Reference: Section 31113, Corporations Code.
History
1. Amendment filed 12-28-73 as an emergency; designated effective 1-1-74. Certificate of Compliance included (Register 73, No. 52).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 10, § 310.113, 10 CA ADC § 310.113
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