South Dakota § 32-6B-71 Vehicle dealership--Death of owner--Succession of interest.

South Dakota Statutes

§ 32-6B-71 — Vehicle dealership--Death of owner--Succession of interest.

South Dakota·Title 32 MOTOR VEHICLES·Ch. 32-6A REGULATION OF VEHICLE DEALERS

The owner of a vehicle dealership may appoint by trust, will, or any other valid written instrument a successor to the owner's dealership interest upon the owner's death or incapacity. Unless the franchisor has good cause to refuse to honor the succession, the successor may succeed to the ownership of the dealership under the existing franchise if:

(1)Within ninety days of the owner's death or incapacity, the successor gives written notice of the successor's intent to succeed to ownership of the dealership; and (2) The successor agrees to be bound by all the terms and conditions of the franchise agreement with the prior owner. Upon request, the successor shall promptly provide the franchisor evidence of the successorship appointment, as well as personal and financial information rea

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The owner of a vehicle dealership may appoint by trust, will, or any other valid written instrument a successor to the owner's dealership interest upon the owner's death or incapacity. Unless the franchisor has good cause to refuse to honor the succession, the successor may succeed to the ownership of the dealership under the existing franchise if: (1) Within ninety days of the owner's death or incapacity, the successor gives written notice of the successor's intent to succeed to ownership of the dealership; and (2) The successor agrees to be bound by all the terms and conditions of the franchise agreement with the prior owner. Upon request, the successor shall promptly provide the franchisor evidence of the successorship appointment, as well as personal and financial information reasonably necessary to determine whether the succession should be honored by the franchisor.

South Dakota § 32-6B-71 (Vehicle dealership--Death of owner--Succession of interest.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.