§ 12-9-118 — Repurchase of inventory upon termination

Wyoming § 12-9-118

• Jurisdiction: Wyoming
• Title 12: Alcoholic Beverages
• Ch. 9: MALT BEVERAGES
• Art. 1: RELATIONS BETWEEN MALT BEVERAGE

Text

(a) Except as otherwise provided in W.S. 12-9-120,
whenever any malt beverage distributor enters into a franchise
agreement with a manufacturer in which the distributor agrees to
maintain an inventory of malt beverages and the franchise is
subsequently terminated, the manufacturer shall repurchase the
inventory as provided in this section. If the distributor has
any outstanding debts to the manufacturer, then the repurchase
amount may be credited to the distributor's account.
(b) The manufacturer shall repurchase that inventory
previously purchased from him and held by the distributor on the
date of termination of the contract. The manufacturer shall pay
one hundred percent (100%) of the distributor's laid-in cost,
payable when the product is returned to the manufacturer free
and clear of all liens, claims and charges created or permitted
by the distributor.
(c) Upon payment of the repurchase amount to the
distributor, the title and right of possession to the
repurchased inventory shall be transferred to the manufacturer.
(d) A distributor shall not keep any inventory except with
the consent of the manufacturer and the distributor's agreement
that such product will be maintained and sold in accordance with
the manufacturer's product handling standards.
(e) If any manufacturer shall fail or refuse to repurchase
any inventory covered under the provisions of this section
within sixty (60) days after termination of a distributor's
contract, he shall be civilly liable for one hundred percent
(100%) of the current wholesale price of the inventory plus any
freight charges paid by the distributor, the distributor's
reasonable attorney's fees, court costs and interest on the
current wholesale price computed at the legal interest rate.