§ 4-72-503 - Remedies for cancellation, termination, etc., of franchise.
4-72-503. Remedies for cancellation, termination, etc., of franchise.
(a) If any petroleum products supplier or distributor cancels, refuses to renew, or otherwise terminates any franchise in violation of the provisions of this subchapter, the petroleum products dealer whose franchise is cancelled, not renewed, or otherwise terminated shall have a cause of action against the petroleum products supplier or petroleum products distributor for specific performance or injunctive relief, or for actual damages sustained by the plaintiff, as a result of the termination of the franchise, including ascertainable loss of goodwill as a result of the termination of the franchise.
(b) However, any action brought by a petroleum products dealer against a supplier or distributor for wrongful termination of a franchise shall be commenced within two (2) years after the wrongful termination.