Code of Virginia § 59.1-21.15. Disclosures to be made by refiner before conclusion of agreement.
166 words·~1 min read·
/va/title-59-1/chapter-2-2/59-1-21-15·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A refiner shall disclose to any prospective dealer the following information, before any franchise agreement is concluded:
1. The gallonage volume history, if any, of the location under negotiation for and during the three-year period immediately past or for the entire period which the location has been supplied by the refiner, whichever is shorter.
2. The name and last known address of the previous dealer or dealers for the last three years, or for and during the entire period which the location has been supplied by the refiner, whichever is shorter.
3. Any legally binding commitments for the sale, demolition, or other disposition of the location.
4. The training programs, if any, and the specific goods and services the refiner will provide for and to the dealer.
5. Full disclosure of any and all obligations which will be required of the dealer.
6. Full disclosure of all restrictions on the sale, transfer, and termination of the agreement.
1973, c. 423; 1979, c. 306; 1990, c. 907.