§ 47-25-1301 — Part definitions

As used in this part, unless the context otherwise requires: (1) "Current model" means a model listed in the wholesaler's, manufacturer's or distributor's current sales manual or any supplements thereto; (2) "Current net price" means the price listed in the supplier's price list or catalogue in effect at the time the contract is cancelled or discontinued, less any applicable trade and cash discounts; (3) "Inventory" means farm implements and machinery, construction, utility and industrial equipment, consumer products, outdoor power equipment, attachments and repair parts; (4) "Retailer" means any person, firm or corporation engaged in the business of selling and retailing farm implements and machinery, construction, utility and industrial equipment, outdoor power equipment, attachments or repair parts and shall not include retailers of petroleum products; (5) "Superseded part" means any part that will provide the same function as a currently available part as of the date of cancellation; and (6) "Supplier" means any manufacturer, wholesaler, wholesale distributor, or any purchaser of assets or stock of any surviving corporation resulting from a merger or liquidation, any receiver or assignee, or any trustee of the original manufacturer, wholesaler or distributor.

Legislative History

Acts 1999, ch. 193, § 2.