Utah § 13-58-402 Termination without time to cure.

Utah Statutes

§ 13-58-402 — Termination without time to cure.

Utah·Title 13 Commerce and Trade·Ch. 13-58 Motorboat Agreements Act·Part 13-58-4 Termination or Nonrenewal of Agreements

A manufacturer or distributor may terminate an agreement with a motorboat dealer upon written notice and without a cure period described in Section 13-58-302, if:

(1)the motorboat dealer:

(1)(a) financially defaults to the manufacturer, the distributor, or a financing source;

(1)(b) becomes subject to an order for relief, as defined in 11 U.S.C. Sec. 102;

(1)(c) files a voluntary petition in bankruptcy;

(1)(d) has had an involuntary petition in bankruptcy filed against the motorboat dealer;

(1)(e) engages in an act of material fraud in relation to the performance of a right or obligation under the agreement;

(1)(f) is a corporation that ceases to exist;

(1)(g) becomes insolvent;

(1)(h) takes or fails to take an action that constitutes an admission of inability to pay debts as the debts m

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A manufacturer or distributor may terminate an agreement with a motorboat dealer upon written notice and without a cure period described in Section 13-58-302, if:
(1) the motorboat dealer:

(1)(a) financially defaults to the manufacturer, the distributor, or a financing source;
(1)(b) becomes subject to an order for relief, as defined in 11 U.S.C. Sec. 102;
(1)(c) files a voluntary petition in bankruptcy;
(1)(d) has had an involuntary petition in bankruptcy filed against the motorboat dealer;
(1)(e) engages in an act of material fraud in relation to the performance of a right or obligation under the agreement;
(1)(f) is a corporation that ceases to exist;
(1)(g) becomes insolvent;
(1)(h) takes or fails to take an action that constitutes an admission of inability to pay debts as the debts mature;
(1)(i) makes a general assignment for the benefit of creditors to an agent authorized to liquidate any substantial amount of assets;
(1)(j) applies to a court for the appointment of a receiver for any assets or properties;
(1)(k) fails to substantially comply with a federal, state, or local law, rule, regulation, ordinance, or order applicable to the agreement;
(1)(l) receives three valid notices of a default under Section 13-58-302 for the same default within a 12-month period, regardless of whether the dealer cures the default;
(1)(m) transfers an interest in the dealership without the manufacturer's written consent;
(1)(n) has pleaded guilty to or has been convicted of a felony, or of any misdemeanor relating to the relationship between the motorboat dealer and manufacturer;
(1)(o) or one of the owners of the motorboat dealer is convicted or enters a plea of nolo contendere to a felony; or
(1)(p) makes a material misrepresentation;
(2) there is a closeout or sale of a substantial part of the dealer's assets related to the motorboat dealership;
(3) there is a commencement or dissolution or liquidation of the motorboat dealership;
(4) there is a change without the prior written approval of the manufacturer in the location of the motorboat dealer's principal place of business under the dealership agreement; or
(5) the motorboat dealer's license is suspended, revoked, or is not renewed.