The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
553.27
(4) 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.