New Jersey S207 revises the "Franchise Practices Act" to enhance protections for franchisees.

New Jersey S207 revises the "Franchise Practices Act" to increase protections for franchisees. The bill removes a provision that limited the act's application to franchises with gross sales exceeding $35,000 in the 12 months preceding a suit. It prohibits franchisors from restricting the sale of equity securities or transfers of securities to employees, personnel, or heirs of the franchisee. The bill also restricts franchisors from requiring changes in management unless stated in writing for good cause.

New Jersey S207 revises the "Franchise Practices Act" to enhance protections for franchisees.

New Jersey S207 revises the "Franchise Practices Act" to increase protections for franchisees. The bill removes a provision that limited the act's application to franchises with gross sales exceeding $35,000 in the 12 months preceding a suit. It prohibits franchisors from restricting the sale of equity securities or transfers of securities to employees, personnel, or heirs of the franchisee. The bill also restricts franchisors from requiring changes in management unless stated in writing for good cause.