§ 696-g. Death or incapacity of dealer.
1.In the event of the death\nor incapacity of the dealer or the majority stockholder of a corporation\noperating as a dealer, the supplier shall, at the option of the heirs at\nlaw, if the dealer died intestate, or the executor under the terms of\nthe deceased dealer's last will and testament, if said dealer died\ntestate, repurchase the inventory from the estate as if the supplier had\nterminated the contract and the inventory repurchase provisions of\nsection six hundred ninety-six-f of this article are made expressly\napplicable hereto. The heirs or executor shall have nine months from the\ndate of the death of the dealer or majority stockholder to exercise the\noption under this article. However, nothing in this article shall\nrequire the repu
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§ 696-g. Death or incapacity of dealer. 1. In the event of the death\nor incapacity of the dealer or the majority stockholder of a corporation\noperating as a dealer, the supplier shall, at the option of the heirs at\nlaw, if the dealer died intestate, or the executor under the terms of\nthe deceased dealer's last will and testament, if said dealer died\ntestate, repurchase the inventory from the estate as if the supplier had\nterminated the contract and the inventory repurchase provisions of\nsection six hundred ninety-six-f of this article are made expressly\napplicable hereto. The heirs or executor shall have nine months from the\ndate of the death of the dealer or majority stockholder to exercise the\noption under this article. However, nothing in this article shall\nrequire the repurchase of inventory if the heirs or executor and the\nsupplier enter into a new dealer agreement, or if a successor to the\ndealer is established pursuant to paragraph (j) of subdivision three of\nsection six hundred ninety-six-b of this article. This section shall be\nsubject to that portion of the supplier's agreement with the dealer\npertaining to death of the dealer or succession, to the extent such\nagreement is not inconsistent herewith.\n 2. The provisions of this section shall be supplemental to any\nagreement between the dealer and the supplier covering the return of\nequipment, attachments and repair parts which provides the dealer with\ngreater protection. The heirs or executor can elect to pursue either the\ncontract remedy or the remedy provided herein, and an election by the\nheirs or executor to pursue contract remedy shall not bar such heirs' or\nexecutor's right to the remedy provided herein as to those equipment,\nattachments and repair parts not affected by the contract remedy.\nNotwithstanding anything contained herein, the rights of a supplier to\ncharge back to the dealer's account amounts previously paid or credited\nas a discount incident to the dealer's purchase of goods shall not be\naffected. Further, any repurchase hereunder shall not be subject to the\nprovisions of the bulk sales law. Additionally, nothing shall preclude a\nprice for return parts which is greater than the total allowance for\nparts allowed herein and the shipping allowance, in such case the\npacking, freight and handling expense charge shall not be borne by the\nsupplier.\n