§ 3-13-6. Transfer of business assets of stock.
(a) No supplier shall, by the terms of an agreement or otherwise, unreasonably withhold
or delay approval of any assignment, sale, or transfer of the stock of a wholesaler
or all or any portion of a wholesaler's assets, wholesaler's voting stock, the voting
stock of any parent corporation, or the beneficial ownership or control of any other
entity owning or controlling a wholesaler, including the wholesaler's rights and obligations
under the terms of an agreement whenever the person or persons to be substituted meet
reasonable and express standards imposed not only upon the wholesaler but upon a
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§ 3-13-6. Transfer of business assets of stock.
(a) No supplier shall, by the terms of an agreement or otherwise, unreasonably withhold
or delay approval of any assignment, sale, or transfer of the stock of a wholesaler
or all or any portion of a wholesaler's assets, wholesaler's voting stock, the voting
stock of any parent corporation, or the beneficial ownership or control of any other
entity owning or controlling a wholesaler, including the wholesaler's rights and obligations
under the terms of an agreement whenever the person or persons to be substituted meet
reasonable and express standards imposed not only upon the wholesaler but upon all
other wholesalers of a supplier generally.
(b) Upon the death of one of the partners of a partnership operating the business of a
wholesaler, no supplier shall deny the surviving partner or partners of that partnership
the right to become a successor-in-interest to the agreement between the supplier
and that partnership; provided the survivor has been active in the management of the
partnership and is otherwise capable of carrying on the business of the partnership.
(c) A wholesaler shall not transfer or agree to transfer any of its rights and obligations
under the terms of any agreement without first giving prior notice to the supplier.