Connecticut § 42-353 Security interest in inventory. Arbitration. Waiver void. Settlements.

Connecticut Statutes

§ 42-353 — Security interest in inventory. Arbitration. Waiver void. Settlements.

Connecticut § 42-353

Title 42Business, Selling, Trading and Collection Practices

Ch. 743rFarm, Forestry, Yard and Garden Equipment Dealers and Suppliers

This text of Connecticut § 42-353 (Security interest in inventory. Arbitration. Waiver void. Settlements.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 42-353 (2026).

Text

(a)Nothing in sections 42-345 to 42-354, inclusive, shall be construed to release or terminate a perfected security interest of a supplier in the inventory of a dealer.

(b)Nothing in sections 42-345 to 42-354 , inclusive, shall be construed to limit the right of a dealer and a supplier to enter into a dealer agreement providing for the arbitration of disputes arising under such agreement. Any such arbitration shall be consistent with the provisions of said sections and other applicable law. Any such arbitration shall be conducted in the city or town in which the dealer maintains the dealer's principal place of business in this state.

(c)Any provision contained in a dealer agreement or other contract purporting to waive compliance with any requirement of sections 42-345 to 42-354 , inclu

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(a) Nothing in sections 42-345 to 42-354, inclusive, shall be construed to release or terminate a perfected security interest of a supplier in the inventory of a dealer. (b) Nothing in sections 42-345 to 42-354 , inclusive, shall be construed to limit the right of a dealer and a supplier to enter into a dealer agreement providing for the arbitration of disputes arising under such agreement. Any such arbitration shall be consistent with the provisions of said sections and other applicable law. Any such arbitration shall be conducted in the city or town in which the dealer maintains the dealer's principal place of business in this state. (c) Any provision contained in a dealer agreement or other contract purporting to waive compliance with any requirement of sections 42-345 to 42-354 , inclusive, is void and unenforceable to the extent of such purported waiver. (d) Nothing in sections 42-345 to 42-354 , inclusive, shall be construed to limit or prohibit good-faith settlements of disputes voluntarily entered into between the parties to a dealer agreement.