8-2437. Application of act.
8-2437
8-2437. Application of act.
(a) Any licensee receiving or
renewing its license after the effective date of this act in all respects
agrees to be bound by its provisions and shall comply with it, and no franchise
agreement made, entered or renewed after the effective date of this act shall
avoid or circumvent the requirements of this act, or
violate its provisions, and no franchise agreement shall be performed after the
date the licensee's license is issued or renewed in such a manner that the
licensee avoids, circumvents or otherwise does not conform or comply with the
requirements of this act. Notwithstanding the effective date of any franchise
agreement, all licenses and renewals thereof are issued subject to all
provisions of the dealers and manufacturers licensing act and any regulations
in effect upon the date of issuance, as well as all future provisions of this
act and any regulations which may become effective during the term of the
license.
(b) The provisions of this section shall be a part of and supplemental to
the vehicle dealers and manufacturers licensing act.
History: L. 1998, ch. 71, § 3; July 1.