§ 30-11-703 — Excepted Inventory

30-11-703 . Excepted inventory. The following inventory is not subject to the repurchase requirements of 30-11-702 :
(1) any repair part that has a limited storage life or is otherwise subject to deterioration, such as rubber items, gaskets, or wet-charge batteries;
(2) any repair part that is in a broken or damaged package;
(3) any single repair part that is priced as a set of two or more items;
(4) any repair part that because of its condition is not resalable as a new part without repackaging or reconditioning;
(5) any inventory for which the retailer is unable to furnish evidence satisfactory to the wholesaler, manufacturer, or distributor of title, free and clear of all claims, liens, and encumbrances;
(6) any inventory the retailer desires to keep, if the retailer has a contractual right to do so;
(7) any inventory item other than a repair part that is not in essentially new, undamaged, and complete condition;
(8) any repair part that is not in new, unused, or undamaged condition;
(9) any inventory item, other than a repair part, that has been stocked for 36 months or more prior to notice of termination of the contract;
(10) any inventory that was ordered by the retailer after the date of notification of termination of the contract; and
(11) any inventory that was acquired from any source other than the wholesaler, manufacturer, or distributor. However, inventory acquired by trade between or among dealers of the same wholesaler, manufacturer, or distributor in the ordinary course of business is subject to the repurchase requirements of 30-11-702 .

Legislative History

En. Sec. 3, Ch. 338, L. 1983; amd. Sec. 940, Ch. 56, L. 2009; amd. Sec. 7, Ch. 283, L. 2019.