A franchise offering is duly registered for a period to expire 110 days from the end of the applicant's fiscal year which follows the date of the application, unless the Commissioner by order specifies a different period.
Cal. Code Regs. Tit. 10, § 310.120
Note: Authority cited and Reference: Sections 31120 and 31502, Corporations Code. Reference: Section 31120, Corporations Code.