815 ILCS 715/ Illinois Equipment Fair Dealership Law.
(815 ILCS 715/1) (from Ch. 5, par. 1501) Sec. 1. This Act may be cited as the Illinois Equipment Fair Dealership Law. (Source: P.A. 86‑259.) |
(815 ILCS 715/3) (from Ch. 5, par. 1503) Sec. 3. Whenever any retailer enters into a written or oral agreement with a wholesaler, manufacturer or distributor wherein the retailer agrees to maintain an inventory and the contract is terminated by wholesaler, manufacturer, distributor, or retailer, then the retailer may require the repurchase of the inventory as provided for in this Act. If the retailer has any outstanding debts to the wholesaler, manufacturer or distributor then the repurchase amount may be credited to the retailer's account. Any such agreement shall either expressly or by operation of law have as part of its terms a security agreement whereby the wholesaler, manufacturer or distributor agrees to and does grant a security interest to the retailer in the repurchased inventory to secure the payment of the repurchase amount to the retailer. The perfection, priority and other matters relating to such security interest shall be governed by Article 9 of the "Uniform Commercial Code". (Source: P.A. 85‑197.) |
(815 ILCS 715/4.5) Sec. 4.5. Warranty work. Retailers who do warranty repair work for a consumer under the provisions of a manufacturer's express warranty shall be reimbursed by the manufacturer for warranty work at an hourly rate that is the same as or greater than the hourly labor rate that the retailer charges consumers for non‑warranty repair work. The provisions of this Section shall not apply to a supplier or dealer where a written dealer agreement provides for compensation to a dealer for warranty labor costs either as part of the pricing of the equipment to the dealer or in the form of a lump sum payment, provided the payment is not less than 5% of the suggested retail price of the equipment. (Source: P.A. 92‑847, eff. 1‑1‑03.) |
(815 ILCS 715/6) (from Ch. 5, par. 1506) Sec. 6. The provisions of this Act shall not be construed to affect in any way any security interest which any financial institution, person, wholesaler, manufacturer or distributor may have in the inventory of the retailer, but any repurchase hereunder shall not be subject to the provisions of Article 6 of the Uniform Commercial Code. (Source: P.A. 83‑410.) |
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(2) Any repair part which is in a broken or damaged | ||
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(3) Any single repair part which is priced as a set | ||
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(4) Any repair part which because of its condition is | ||
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(5) Any inventory for which the retailer is unable to | ||
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(6) Any inventory which the retailer desires to keep, | ||
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(7) Any outdoor power equipment including but not | ||
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(8) Any repair parts which are not in new, unused, or | ||
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(9) Any outdoor power equipment including but not | ||
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(10) Any inventory which was ordered by the retailer | ||
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(11) Any inventory which was acquired by the retailer | ||
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(12) Any repair parts not listed in the | ||
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(Source: P.A. 96‑1155, eff. 7‑21‑10.) |
(815 ILCS 715/8) (from Ch. 5, par. 1508) Sec. 8. If any wholesaler, manufacturer or distributor shall fail or refuse to repurchase any inventory as required by Section 4 of this Act, he shall be civilly liable for 100% of the current net price of the inventory, plus any freight charges paid by the retailer, the retailer's attorney's fees, and court costs, plus interest at the statutory rate from date of shipment to wholesaler, manufacturer or distributor. (Source: P.A. 83‑410.) |
(815 ILCS 715/9) (from Ch. 5, par. 1509) Sec. 9. In the event of the death of the retailer or the spouse of a surviving retailer if the retailer is operating as a tenancy by the entirety or the majority stockholder of a corporation, operating as a retailer, the wholesaler, manufacturer or distributor shall, at the option of the surviving spouse or the heir or heirs, repurchase the inventory from the surviving spouse or the heir or heirs of the retailer or majority stockholder as if the wholesaler, manufacturer, or distributor had terminated the contract. The surviving spouse or the heir or heirs shall have one year from the date of death of the retailer or majority stockholder to exercise their options under this Act. Nothing in this Act shall require the repurchase of any inventory if the surviving spouse or the heir or heirs and wholesaler, manufacturer or distributor enter into a new contract to operate the retail dealership. (Source: P.A. 83‑410.) |
(815 ILCS 715/9.1) (from Ch. 5, par. 1509.1) Sec. 9.1. The obligations of wholesalers, manufacturers and distributors created under this Act apply to any successors in interest or assignees of such wholesalers, manufacturers and distributors. A successor in interest includes any purchaser of substantially all of the assets or over 50% of the stock, any surviving corporation resulting from a merger or liquidation, any receiver or any trustee of the original wholesaler, manufacturer or distributor. (Source: P.A. 86‑259.) |
(815 ILCS 715/10) (from Ch. 5, par. 1510) Sec. 10. The effect of this Act may not be varied by contract or agreement and any attempt to do so is void and unenforceable to that extent only. (Source: P.A. 83‑410.) |
(815 ILCS 715/10.1) Sec. 10.1. Retailers and others not subject to Franchise Disclosure Act of 1987. Retailers and wholesalers, manufacturers, and distributors of inventory are not subject to the provisions of the Franchise Disclosure Act of 1987. (Source: P.A. 91‑289, eff. 1‑1‑00.) |
(815 ILCS 715/11) (from Ch. 5, par. 1511) Sec. 11. The provisions of this Act shall apply to all contracts now in effect which have no expiration date and are continuing contracts, and all other contracts entered into or renewed after the effective date of this Act. Any contract in force and effect on the effective date of this Act, which by its own terms will terminate on a date subsequent thereto shall be governed by the law as it existed prior to the effective date of this Act. (Source: P.A. 83‑410.) |