59.1-352.1 - Definitions.
§ 59.1-352.1. Definitions.
As used in this chapter, unless the context requires otherwise:
"Agreement" means a written or oral contract or agreement between a dealerand a wholesaler, manufacturer, or distributor by which the dealer is grantedone or more of the following rights:
1. To sell or distribute goods or services.
2. To use a trade name, trademark, service mark, logo type, or advertising orother commercial symbol.
"Current model" means a model listed in the wholesaler's, manufacturer's,or distributor's current sales manual or any supplements.
"Current net price" means the price listed in the supplier's price list orcatalog in effect at the time the agreement is terminated, less anyapplicable discounts allowed.
"Dealer" means a person engaged in the business of selling at retail farm,construction, utility or industrial equipment, implements, machinery,attachments, outdoor power equipment, or repair parts.
"Family member" means a spouse, brother, sister, parent, grandparent,child, grandchild, mother-in-law, father-in-law, daughter-in-law, son-in-law,stepparent, or stepchild, or a lineal descendant of the dealer or principalowner of the dealership.
"Good cause" means failure by a dealer to comply with requirements imposedupon the dealer by the agreement if the requirements are not different fromthose imposed on other dealers similarly situated in this Commonwealth. Inaddition, good cause exists in any of the following circumstances:
1. A petition under bankruptcy or receivership law has been filed against thedealer.
2. The dealer has made an intentional misrepresentation with the intent todefraud the supplier.
3. Default by the dealer under a chattel mortgage or other security agreementbetween the dealer and the supplier or a revocation or discontinuance of aguarantee of a present or future obligation of the retailer to the supplier.
4. Closeout or sale of a substantial part of the dealer's business related tothe handling of goods; the commencement or dissolution or liquidation of thedealer if the dealer is a partnership or corporation; or a change, withoutthe prior written approval of the supplier, which shall not be unreasonablywithheld, in the location of the dealer's principal place of business oradditional locations set forth in the agreement.
5. Withdrawal of an individual proprietor, partner, major shareholder, ormanager of the dealership, or a substantial reduction in interest of apartner or major shareholder, without the prior written consent of thesupplier.
6. Revocation or discontinuance of any guarantee of the dealer's present orfuture obligations to the supplier.
7. The dealer has failed to operate in the normal course of business forseven consecutive business days or has otherwise abandoned the business.
8. The dealer has pleaded guilty to or has been convicted of a felonyaffecting the relationship between the dealer and the supplier.
9. The dealer transfers an interest in the dealership, or a person with asubstantial interest in the ownership or control of the dealership, includingan individual proprietor, partner, or major shareholder, withdraws from thedealership or dies, or a substantial reduction occurs in the interest of apartner or major shareholder in the dealership.
"Inventory" means farm implements and machinery, construction, utility andindustrial equipment, consumer products, outdoor power equipment,attachments, or repair parts.
"Net cost" means the price the dealer paid the supplier for the inventory,less all applicable discounts allowed, plus the amount the dealer paid forfreight costs from the supplier's location to the dealer's location, plusreasonable cost of assembly or disassembly performed by the dealer.
"Superseded part" means any part that will provide the same function as acurrently available part as of the date of cancellation.
"Supplier" means a wholesaler, manufacturer, distributor, or any purchaserof assets or stock of any surviving corporation resulting from a merger orliquidation, any receiver or assignee, or any trustee of the originalmanufacturer, wholesaler, or distributor who enters into an agreement with adealer.
"Termination" of an agreement means the termination, cancellation,nonrenewal, or noncontinuance of the agreement.
(2002, c. 898.)