16-1005.   Same; death of retailer or majority stockholder of corporationretailing farm equipment or repair parts.In the event of the death of the retail dealer or majority stockholder ina corporation operating a retail dealership in the business of selling andretailing farm implements, machinery, attachments or repair parts therefor,the wholesaler, distributor or manufacturer who supplied such merchandiseshall repurchase from the heir or heirs of such retail dealer or majoritystockholder such merchandise under the same terms and conditions as if thewholesaler, manufacturer or distributor had terminated the contract. Nothingin this act shall require the repurchase of any farm implements, machinery,attachments or repair parts therefor if the heir or heirs, and the wholesaler,manufacturer or distributor jointly agree to enter into a new contract tooperate the retail dealership.

      History:   L. 1976, ch. 95, § 5; July 1.