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AB-2637 Franchise investments: offer and sale of registered franchises: registration exemption.(2015-2016)

Senate:
1st
Cmt
2nd
Cmt
2nd
3rd
Pass
Assembly:
Int
1st
Cmt
2nd
Pass
Pass
Veto
Bill Status
AB-2637
Wilk (A)
-
-
Franchise investments: offer and sale of registered franchises: registration exemption.
03/22/16
An act to amend Section 31109.1 of the Corporations Code, relating to business.
Assembly
09/02/16
06/16/16

Type of Measure
Inactive Bill - Vetoed
Majority Vote Required
Non-Appropriation
Fiscal Committee
Non-State-Mandated Local Program
Non-Urgency
Non-Tax levy
Last 5 History Actions
Date Action
09/22/16 Vetoed by Governor.
09/12/16 Enrolled and presented to the Governor at 11:30 a.m.
08/31/16 Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 78. Noes 1. Page 6536.).
08/30/16 In Assembly. Concurrence in Senate amendments pending.
08/24/16 Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 5346.).
Governor's Veto Message
To the Members of the California State Assembly:

I am returning Assembly Bill 2637 without my signature.

This bill allows franchisors to negotiate changes to a franchise agreement without disclosing the terms to the Department of Business Oversight (Department) or to other prospective franchisees.

While it is important to promote bringing new business into California, doing so at the expense of transparency could be detrimental to potential franchisees, as this bill proposes to do. The current process, which allows the Department to review contract changes, ensures that franchisees are not placed at a disadvantage in their final agreement.

Sincerely,



Edmund G. Brown Jr.