The sale or transfer of a franchise issued hereunder, in whole or in part, or the sale or transfer of a majority of franchisee’s assets, or of the stock of franchisee so as to create a new controlling interest in the system, is prohibited, except upon the approval of the franchisor, which approval shall not be unreasonably withheld. Such sale or transfer review shall be completed pursuant to applicable state law.
(Ord. 48, 6th Series, passed 10-5-2010)