Corporations Code section 31201

It is unlawful for any person to offer or sell a franchise in this state by means of any written or oral communication not enumerated in Section 31200 which includes an untrue statement of a material fact or omits to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading.

Source: Section 31201, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=CORP§ionNum=31201.­ (updated Jan. 1, 1970; accessed Jun. 30, 2025).

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Verified:
Jun. 30, 2025

§ 31201's source at ca​.gov