Nevada § 597.400 Circumstances under which fair compensation is required on failure of refiner to renew franchise

Nevada Statutes

§ 597.400 — Circumstances under which fair compensation is required on failure of refiner to renew franchise

Nevada § 597.400

Title 52TRADE REGULATIONS AND PRACTICES

Ch. 597Miscellaneous

Service Stations

This text of Nevada § 597.400 (Circumstances under which fair compensation is required on failure of refiner to renew franchise) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 597.400 (2026).

Text

1. A refiner shall not fail to renew the franchise of any retailer without fairly compensating the retailer at a fair going business value for his or her capital investment if:

(a)The capital investment was entered into with reasonable and prudent business judgment for the purpose of fulfilling the franchise; and

(b)The cancellation or failure to renew was not done in good faith. 2. For the purposes of this section, “capital investment” includes, but is not limited to, tools, equipment and any inventory of parts possessed by the retailer on the day of notification of cancellation or nonrenewal and which are still in the retailer’s possession on the day the cancellation or nonrenewal is effective.

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1. A refiner shall not fail to renew the franchise of any retailer without fairly compensating the retailer at a fair going business value for his or her capital investment if:
(a) The capital investment was entered into with reasonable and prudent business judgment for the purpose of fulfilling the franchise; and
(b) The cancellation or failure to renew was not done in good faith.
2. For the purposes of this section, “capital investment” includes, but is not limited to, tools, equipment and any inventory of parts possessed by the retailer on the day of notification of cancellation or nonrenewal and which are still in the retailer’s possession on the day the cancellation or nonrenewal is effective.