The bill amends 11 V.S.A. chapter 15, subchapter 3 by introducing a new section titled "Franchise Designation." This section establishes specific requirements for individuals or entities operating as franchisors or franchisees in Vermont. It mandates that, at the time of filing with the Secretary of State, these individuals must indicate their status as a franchisor or franchisee and provide the name of the franchisor if they are operating as a franchisee. The definitions of "franchisee" and "franchisor" are aligned with the federal regulation found in 16 C.F.R. 436.1.

Additionally, the bill specifies that it will take effect on January 1, 2027. This new legal framework aims to enhance transparency and accountability in the registration process for franchisors and franchisees operating within the state.

Statutes affected:
As Passed By the House -- Official: 11-15
As Passed By the House -- Unofficial: 11-15
As Passed by Both House and Senate -- Official: 11-15
As Passed by Both House and Senate -- Unofficial: 11-15
As Enacted: 11-15
H-0733.pdf: 11-15