44-6707
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44-6707. Death of equipment dealer; definition A. If an equipment dealer dies or becomes incapacitated, the supplier shall repurchase the inventory from the estate pursuant to the inventory repurchase provisions of section 44-6705 as if the supplier had terminated the dealer agreement. The guardian, the executor or, if the dealer died intestate, the heirs have six months from the date of the dealer's incapacity or death to submit inventory for repurchase. B. This section does not require a supplier to repurchase inventory if the supplier and a dealer's family member have entered into a new dealer agreement. C. This section does not entitle a guardian, heir or personal representative of an incapacitated or deceased dealer to operate a dealership for more than six months after the dealer's incapacity or death. D. This section is supplemental to an agreement between the dealer and the supplier that covers the return of equipment, attachments and repair parts. E. This section does not limit the right of a supplier to charge back to the dealer's account amounts previously paid or credited as a discount pertaining to the equipment dealer's purchase of inventory. F. For the purposes of this section, "dealer" means an owner, an equal or majority partner or the majority stockholder of a corporation who operates as an equipment dealer. |