Indiana § 9-32-19-26 Ownership; written notice

Indiana Statutes

§ 9-32-19-26 — Ownership; written notice

Indiana·Title 9 MOTOR VEHICLES·Art. 32 DEALER SERVICES·Ch. 19 Recreational Vehicle Dealer Agreements

(a)A recreational vehicle dealer shall provide written notice to the recreational vehicle manufacturer or recreational vehicle distributor with whom the recreational vehicle dealer has a recreational vehicle dealer agreement if the recreational vehicle dealer desires to make a change in the ownership of the recreational vehicle dealer at least ten (10) business days before closing. The written notice under this subsection must include all supporting documentation necessary to assist the recreational vehicle manufacturer or recreational vehicle distributor in determining whether to object to the change in ownership.

(b)A recreational vehicle manufacturer or recreational vehicle distributor may object to a proposed change in the ownership of a recreational vehicle dealer if the prospective

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(a) A recreational vehicle dealer shall
provide written notice to the recreational vehicle manufacturer or
recreational vehicle distributor with whom the recreational vehicle
dealer has a recreational vehicle dealer agreement if the recreational
vehicle dealer desires to make a change in the ownership of the
recreational vehicle dealer at least ten (10) business days before
closing. The written notice under this subsection must include all
supporting documentation necessary to assist the recreational vehicle
manufacturer or recreational vehicle distributor in determining whether
to object to the change in ownership.
(b) A recreational vehicle manufacturer or recreational vehicle
distributor may object to a proposed change in the ownership of a
recreational vehicle dealer if the prospective new owner meets at least
one (1) of the following conditions:
(1) The prospective new owner has previously had a recreational
vehicle dealer agreement terminated for good cause by a
recreational vehicle manufacturer or recreational vehicle
distributor.
(2) The prospective new owner has been convicted of a felony or
a crime of fraud, deceit, or moral turpitude.
(3) The prospective new owner lacks a license required by law.
(4) The prospective new owner does not have an active line of
credit sufficient to purchase recreational vehicles under the
recreational vehicle dealer agreement.
(5) In the ten (10) years preceding the prospective change in
ownership, the prospective new owner has:
(A) made a declaration of:
(i) insolvency;
(ii) an assignment for the benefit of creditors; or
(iii) bankruptcy; or
(B) had the appointment of a receiver, trustee, or conservator to
take possession of the prospective new owner's business or
property.
(c) A recreational vehicle manufacturer or recreational vehicle
distributor shall answer the written notice under subsection (a) not later
than seven (7) business days after receiving the written notice and
provide the recreational vehicle dealer with any objections to the
proposed change of ownership. The answer under this subsection must
include the reasons for the objection. The recreational vehicle
manufacturer or recreational vehicle distributor has the burden of proof
regarding the reasons contained in its objection. If the recreational
vehicle manufacturer or recreational vehicle distributor does not timely
answer the written notice under subsection (a), the change of
ownership is deemed approved.