47-25-1908 - Exceptions to repurchase requirement.
47-25-1908. Exceptions to repurchase requirement.
This part does not require repurchase from a dealer of:
(1) Any repair part that, because of its condition, is not resalable as a new part;
(2) Any inventory for which the dealer is unable to furnish evidence of title and ownership in the dealer that is free and clear of all claims, liens and encumbrances to the satisfaction of the supplier;
(3) Any inventory that a dealer desires to keep; provided, that the dealer has a contractual right to do so, pursuant to the retail agreement;
(4) Any motorcycle, off-road vehicle and attachments that are not in new, unused, undamaged, complete condition; provided, that the inventory used in demonstrations or leased as provided in § 47-25-1906(b) shall be considered new and unused;
(5) A repair part that is not in new, unused, or undamaged condition;
(6) A motorcycle, off-road vehicle, or attachment that was purchased more than forty-eight (48) months prior to notice of the termination of the retail agreement;
(7) Any inventory that was ordered by the dealer on or after the date of notification of termination of the retail agreement; and
(8) Any inventory that was acquired by the dealer from a source other than the supplier that is a party to the retail agreement that is being terminated.
[Acts 2007, ch. 188, § 9.]