44-1552
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44-1552. Disclosures to be made by distributor before conclusion of agreement A distributor shall disclose to any prospective dealer the following information before any franchise agreement is concluded: 1. The gallonage volume history of gasoline sold to the previous dealer or dealers at the same premises and during a three-year period immediately past or such shorter period during which the same premises were used for engaging in the sale of gasoline while the franchise or business operation was in effect. 2. To the extent previously made available to the distributor, the name and last known address of the previous dealer or dealers for the preceding three years or such shorter period during which the premises were used for engaging in the sale of petroleum products. 3. Any legally binding commitments for the sale, demolition or other disposition of the location. 4. The training programs, if any, and the specific goods and services the distributor will provide for and to the dealer. 5. Full disclosure of any and all obligations which will be required of the dealer. 6. Full disclosure of all restrictions on the sale, transfer and termination of the agreement. Any disclosure required by this section may be made in the body of the franchise agreement or separately. |