322A.12 - SALE OR TRANSFER OF OWNERSHIP.

        322A.12  SALE OR TRANSFER OF OWNERSHIP.         1.  Notwithstanding the terms, provisions, or conditions of an      agreement or franchise, subject to the provisions of section 322A.11,      subsection 2, in the event of the sale or transfer of ownership of a      franchisee's dealership by sale or transfer of the business or by      stock transfer or in the event of a change in the executive      management of a franchisee's dealership, the franchiser shall give      effect to the change in the franchise unless the transfer of the      franchisee's license under chapter 322 is denied or the new owner is      unable to obtain a license under that chapter.         2.  Notwithstanding the terms, provisions, or conditions of an      agreement or franchise, the sale or transfer, or the proposed sale or      transfer, of a franchisee's dealership, or the change or proposed      change in the executive management of a franchisee's dealership shall      not make applicable any right of first refusal of the franchiser.  
         Section History: Early Form
         [C71, 73, 75, 77, 79, 81, § 322A.12] 
         Section History: Recent Form
         2002 Acts, ch 1063, §39