§ 35-38-108 — Death or incapacitation of equipment dealer

(1) If an
equipment dealer dies or becomes incapacitated, the supplier shall repurchase the
inventory from the estate pursuant to the inventory repurchase provision of section
35-38-104 as if the supplier had terminated the dealer agreement. The guardian,
the executor, or, if the dealer dies intestate, the heirs shall have six months from
the date of the dealers incapacity or death to submit inventory for repurchase.

(2) Nothing in this section shall be construed to require a supplier to
repurchase inventory if the supplier and a dealer's family member have entered into
a new dealer agreement.

(3) Nothing in this section shall be construed to entitle a guardian, heir, or
personal representative of an incapacitated or deceased dealer to operate a
dealership for more than six months after the dealer's incapacity or death without
the consent of the supplier.

(4) This section shall be supplemental to an agreement between the dealer
and the supplier that covers the return of equipment, attachments, and repair parts.

(5) Nothing in this section shall be construed to limit the right of a supplier to
charge back to the dealer's account amounts previously paid or credited as a
discount pertaining to the equipment dealer's purchase of equipment.

(6) For the purposes of this section, dealer means an owner, an equal or
majority partner, or the majority stockholder of a corporation who operates as an
equipment dealer.

Legislative History

Source: L. 95: Entire article R&RE, p. 371, � 1, effective July 1.