The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
No franchise subject to registration under this chapter may be sold in this state unless a copy of an offering circular is provided to the prospective franchisee at least 10 business 14
days prior to the execution by the prospective franchisee of any binding franchise or other agreement with the franchisor or any affiliate of the franchisor
or at least 10 business 14
days prior to the receipt payment
of any consideration to the franchisor or any affiliate of the franchisor
, whichever first occurs. The offering circular may be in a form that the division requires by rule, in a form permitted under 16 CFR 436
or in a form permitted by a successor to that regulation.