Amendment AA1-AA3-AB782

LRBa4636/1

JS:skg&mkd:jlb

1995 - 1996 LEGISLATURE

ASSEMBLY AMENDMENT 1, To ASSEMBLY AMENDMENT 3, To 1995 ASSEMBLY BILL 782

March 20, 1996 - Offered by Representatives Jensen and Albers.

AB782-AA3-AA1,1,1 At the locations indicated, amend the amendment as follows:

AB782-AA3-AA1,1,2 1. Page 1, line 2: delete "that line" and substitute "lines 24 and 25".

AB782-AA3-AA1,1,3 2. Page 1, line 3: before the quotation mark insert:

AB782-AA3-AA1,1,5 " Section 29t. 553.27 (2) of the statutes, as affected by 1995 Wisconsin Act 27, is amended to read:

AB782-AA3-AA1,1,14 553.27 (2) If the division finds that the applicant has failed to demonstrate that adequate financial arrangements have been made to fulfill obligations to provide real estate, improvements, equipment, inventory, training or other items included in the offering and if the franchisee so requests, the division may by rule or order require the escrow of franchise fees and other funds paid by the franchisee or subfranchisor until no later than the time of opening of the franchise business, or, at the option of the franchisor, the furnishing of a surety bond as provided by rule of the division, if the division finds that such requirement is necessary and appropriate to protect prospective franchisees or subfranchisors.".

AB782-AA3-AA1,1,15 (End)