14 Ill. Adm. Code 200.504
Guarantee of Performance
Section 200
Section 200.504 Guarantee of
Performance
a) If the franchisor can make arrangements with any other
individual, partnership or corporation whose financial statements demonstrate
an ability to perform the franchisor's obligations as contained in the
franchise or other agreement, the Administrator will accept a guaranty of
performance in the form set forth in Appendix D, Illustration A from such other
individual, partnership or corporation;
b) The guarantor shall submit, in addition to the guaranty of
performance, the resolution of its governing body authorizing the guaranty, the
certificate of its Secretary as to such resolution, and a consent to service of
process and acknowledgment for the guarantor in the form set forth in Appendix
D, Illustrations B and C and Appendix A, Illustrations D, E and F hereto. The
franchisor's disclosure statement shall include those financial statements of
the guarantor which, absent a guaranty, the U.F.O.C. or F.T.C. prospectus
requires of the franchisor.