(A) A franchise and the rights, privileges and authority granted shall take effect and be in force from and after final grant and acceptance thereof by a company for the term specified in an initial proposal or renewal proposal as the case may be, which term may be for not more than 20 years; provided, however, that by appropriate agreement certain obligations may be deemed to commence from a date prior to the final grant and acceptance of a franchise.
(B) Acceptance by a company of a franchise shall constitute a representation or warranty that it accepts the franchise willingly and without coercion, undue influence and duress, that it has not misrepresented or omitted material facts, has not accepted the franchise with intent to act contrary to the provisions of this chapter and that, so long as it operates the cable system, it will be bound by the terms and conditions of this franchise, subject to applicable state and federal law.
(`83 Code, § 13-506)