407.1368. If the boat, marine, vessel, or personal watercraft dealeragreement is terminated, canceled or not renewed by the manufacturer forcause, the manufacturer shall, at the election of the boat, marine, vessel,or personal watercraft dealer, within thirty days of termination,repurchase:
(1) (a) All new, untitled current model year inventory, acquiredfrom the manufacturer, which has not been used (except for demonstrationpurposes), altered or damaged to the extent that such damage must bedisclosed to the consumer pursuant to section 407.1343, at one hundredpercent of the net invoice cost, less transportation, applicable rebates,and discounts to the dealer;
(b) All new, untitled inventory of the prior model year, acquiredfrom the manufacturer, provided the prior model year vessels have not beenaltered, used (except for demonstration purposes) or damaged to the extentthat such damage must be disclosed to the consumer pursuant to section407.1343, and were drafted on the dealer's financing source or paid withinone hundred twenty days prior to the effective date of the termination,cancellation, or nonrenewal;
(c) Any other existing inventory provided the boat, marine, vessel,or personal watercraft dealer and the manufacturer have agreed on awholesale value for such inventory.
In the event any of the vessels repurchased pursuant to this subdivisionare damaged, but do not trigger the consumer disclosure requirement, theamount due the dealer shall be reduced by the cost to repair the vessels.Damage prior to delivery to dealer that is disclosed at the time ofdelivery will not disqualify repurchase under this provision;
(2) All current and undamaged manufacturer's accessories andproprietary parts sold to the dealer for resale, if accompanied by theoriginal invoice, at one hundred percent of the original net price paid tothe manufacturer minus a ten percent freight and restocking expense *.
407.1368. If the boat, marine, vessel, or personal watercraft dealeragreement is terminated, canceled or not renewed by the manufacturer forcause, the manufacturer shall, at the election of the boat, marine, vessel,or personal watercraft dealer, within thirty days of termination,repurchase:
(1) (a) All new, untitled current model year inventory, acquiredfrom the manufacturer, which has not been used (except for demonstrationpurposes), altered or damaged to the extent that such damage must bedisclosed to the consumer pursuant to section 407.1343, at one hundredpercent of the net invoice cost, less transportation, applicable rebates,and discounts to the dealer;
(b) All new, untitled inventory of the prior model year, acquiredfrom the manufacturer, provided the prior model year vessels have not beenaltered, used (except for demonstration purposes) or damaged to the extentthat such damage must be disclosed to the consumer pursuant to section407.1343, and were drafted on the dealer's financing source or paid withinone hundred twenty days prior to the effective date of the termination,cancellation, or nonrenewal;
(c) Any other existing inventory provided the boat, marine, vessel,or personal watercraft dealer and the manufacturer have agreed on awholesale value for such inventory.
In the event any of the vessels repurchased pursuant to this subdivisionare damaged, but do not trigger the consumer disclosure requirement, theamount due the dealer shall be reduced by the cost to repair the vessels.Damage prior to delivery to dealer that is disclosed at the time ofdelivery will not disqualify repurchase under this provision;
(2) All current and undamaged manufacturer's accessories andproprietary parts sold to the dealer for resale, if accompanied by theoriginal invoice, at one hundred percent of the original net price paid tothe manufacturer minus a ten percent freight and restocking expense *.
407.1368. If the boat, marine, vessel, or personal watercraft dealeragreement is terminated, canceled or not renewed by the manufacturer forcause, the manufacturer shall, at the election of the boat, marine, vessel,or personal watercraft dealer, within thirty days of termination,repurchase:
(1) (a) All new, untitled current model year inventory, acquiredfrom the manufacturer, which has not been used (except for demonstrationpurposes), altered or damaged to the extent that such damage must bedisclosed to the consumer pursuant to section 407.1343, at one hundredpercent of the net invoice cost, less transportation, applicable rebates,and discounts to the dealer;
(b) All new, untitled inventory of the prior model year, acquiredfrom the manufacturer, provided the prior model year vessels have not beenaltered, used (except for demonstration purposes) or damaged to the extentthat such damage must be disclosed to the consumer pursuant to section407.1343, and were drafted on the dealer's financing source or paid withinone hundred twenty days prior to the effective date of the termination,cancellation, or nonrenewal;
(c) Any other existing inventory provided the boat, marine, vessel,or personal watercraft dealer and the manufacturer have agreed on awholesale value for such inventory.
In the event any of the vessels repurchased pursuant to this subdivisionare damaged, but do not trigger the consumer disclosure requirement, theamount due the dealer shall be reduced by the cost to repair the vessels.Damage prior to delivery to dealer that is disclosed at the time ofdelivery will not disqualify repurchase under this provision;
(2) All current and undamaged manufacturer's accessories andproprietary parts sold to the dealer for resale, if accompanied by theoriginal invoice, at one hundred percent of the original net price paid tothe manufacturer minus a ten percent freight and restocking expense *.
