SB 5256 - DIGEST

(SUBSTITUTED FOR - SEE 1ST SUB)

      Designates the situations when an offer to sell a franchise shall be deemed to have been made in this state.

      Revises provisions of chapter 19.100 RCW which establish registration requirements.

      Makes it unlawful to sell a franchise that is registered without first delivering to the offeree a copy of the offering circular required by RCW 19.100.040.

      Does not preclude negotiation of the terms and conditions of a franchise at the initiative of the franchisee.

      Provides that an action for recission for failure to register may not be commenced more than one year after the transaction has occurred.