Section 460-82-200. Franchise broker record-keeping requirements.

Every franchise broker shall make and keep current the following books and records:

(1) Records of each sale of a franchise including:

(a) The name and address of the franchisee;

(b) The aggregate purchase price;

(c) Records of any payments collected by the franchise broker in connection with the offer or sale of a franchise;

(d) The terms of payment;

(e) A receipt signed by the purchaser confirming delivery of the Franchise Disclosure Document in accordance with WAC 460-80-300;

(f) The commission paid to the broker;

(g) The amount disbursed for advertising and other amounts to be funded by the franchisor.

(2) Every franchise broker shall keep a copy of all advertising used by the broker in the sale of franchises, including but not limited to the internet, radio, newspaper, T.V. media, letters, brochures, etc.

(3) Every franchise broker shall preserve for a period of not less than six years from the closing of any franchise account, all records, books and memorandums that relate to the offer or sale of franchises.

[Statutory Authority: Chapter 19.100 RCW and RCW 19.100.250. WSR 10-10-055, § 460-82-200, filed 4/29/10, effective 5/30/10. Statutory Authority: RCW 19.100.250. WSR 92-02-054, § 460-82-200, filed 12/30/91, effective 1/30/92; Order 11, § 460-82-200, filed 3/3/72.]

Chapter 19.100 RCW and RCW 19.100.250. WSR 10-10-055, § 460-82-200, filed 4/29/10, effective 5/30/10. Statutory Authority: RCW 19.100.250. WSR 92-02-054, § 460-82-200, filed 12/30/91, effective 1/30/92; Order 11, § 460-82-200, filed 3/3/72.

Rules

460-80-300,