§ 199-D — Repurchase of merchandise

§ 199-d. Repurchase of merchandise. In the event of any termination,\ncancellation or failure to renew a franchise, whether by mutual\nagreement or otherwise, a distributor shall make or cause to be made an\noffer in good faith to repurchase from the dealer at then current\nwholesale prices any and all merchantable products purchased by said\ndealer from the distributor, provided however, that in such event the\ndistributor shall have the right to apply the proceeds against any\nexisting indebtedness owed to him by the dealer and further provided\nthat such repurchased obligation is conditioned upon there being no\nother claims or liens against such products by or on behalf of other\ncreditors of the dealer.\n