Financial Institutions

CHAPTER 19-28.1
Franchise Investment Act

SECTION 19-28.1-13

§ 19-28.1-13. Books and records.

Every franchisor offering or selling a franchise in this state must maintain a complete and accurate set of books and records of the offers and sales of franchises. The books and records must include disclosure documents, advertising correspondence with franchisees and prospective franchisees, past and present operations manuals, training records, training manuals, copies of executed agreements, and any due diligence records concerning franchisees. These books and records must be maintained at an office readily accessible to the franchisor for five (5) years. The books and records may be kept on photographic or electronic media but must be printed if the director requests. Nothing in this section limits the investigative authority of the director.

History of Section.
(P.L. 1993, ch. 395, § 2.)