Notwithstanding the terms of any franchise, the franchisor may not prohibit or prevent the sale, transfer, or assignment of the franchise to a corporation if both of the following conditions are satisfied:
(a) The franchisee has a controlling interest in the corporation.
(b) The franchisee offers in writing to personally guarantee the corporation’s performance of its obligations under the franchise.
(Added by Stats. 1980, Ch. 698, Sec. 2.)