§ 13-58-201 — Agreement requirement -- Terms of agreements.

(1) A person may not act as a motorboat dealer in this state without entering into an agreement.
(2) An agreement shall include:

(2)(a) each working capital standard, inventory standard, facility standard, equipment standard, and tool standard, if any, including each agreed upon minimum product stocking requirement;
(2)(b) provisions for termination or nonrenewal of the agreement;
(2)(c) the designation of a successor motorboat dealer in the event of the motorboat dealer's death or disability;
(2)(d) the obligations of the manufacturer, distributor, and motorboat dealer in the preparation and delivery of, and warranty service on, new motorboats and new motorboat motors;
(2)(e) the obligations of the manufacturer, distributor, and new motorboat dealer upon termination of the agreement, including obligations in relation to:
(2)(e)(i) inventory of new motorboats;
(2)(e)(ii) inventory of new motorboat motors;
(2)(e)(iii) inventory of parts;
(2)(e)(iv) equipment;
(2)(e)(v) furnishings;
(2)(e)(vi) special tools; and
(2)(e)(vii) required signs;
(2)(f) each standard for maintenance of:
(2)(f)(i) a dedicated or self-funded line of credit, if any; and
(2)(f)(ii) a trade-in line of credit or self-funded trade-in line of credit, if any; and
(2)(g) dispute resolution procedures.

Legislative History

Enacted by Chapter 185, 2021 General Session