§ 6-46-2 - Definitions.
SECTION 6-46-2
§ 6-46-2 Definitions. – For the purposes of this chapter, the terms defined in this section have thefollowing meanings:
(1) "Current net price" means the price listed in thesupplier's price list or catalog in effect at the time the dealer agreement isterminated, less any applicable discounts allowed.
(2) "Dealer" means a person, corporation, or partnershipprimarily engaged in the business of retail sales of farm and utility tractors,forestry equipment, industrial or construction equipment, farm implements, farmmachinery, yard and garden equipment, attachments, accessories, and repairparts. The term "dealer" shall not include a single line dealer primarilyengaged in the retail sale and service of industrial, forestry, andconstruction equipment.
(3) "Dealer agreement" means a written or oral contract oragreement between a dealer and a wholesaler, manufacturer, or distributor bywhich the dealer is granted the right to sell or distribute goods or servicesor to use a trade name, trademark, service mark, logotype, or advertising orother commercial symbol.
(4) "Inventory" means farm, utility, forestry, industrial orconstruction equipment, implements, machinery, yard and garden equipment,attachments, or repair parts.
(5) "Net cost" means the price the dealer paid the supplierfor the inventory, less all applicable discounts allowed, plus the amount thedealer paid for freight costs from the supplier's location to the dealer'slocation. In the event of termination of a dealer agreement by the supplier,"net cost" includes the reasonable cost of assembly and/or disassemblyperformed by a dealer.
(6) "Single line dealer" means a person, partnership orcorporation who:
(i) Has purchased seventy-five percent (75%) or more of thedealer's total new product inventory from a single supplier; and
(ii) Who has a total annual average sales volume for theprevious three (3) years in excess of twenty million dollars ($20,000,000) forthe entire territory for which the dealer is responsible.
(7) "Supplier" means a wholesaler, manufacturer, ordistributor of inventory who enters into a dealer agreement with a dealer.
(8) "Termination" of a dealer agreement means thecancellation, non-renewal or non-continuance of the agreement.