§ 6-46-3 Notice of termination of dealeragreements. – (a) Notwithstanding any agreement to the contrary, prior to the termination ofa dealer agreement, a supplier shall notify the dealer of the termination notless than one hundred twenty (120) days prior to the effective date of thetermination. No supplier may terminate, cancel, or fail to renew a dealeragreement without cause. For purposes of this subsection "cause" means failureby an equipment dealer to comply with requirements imposed upon the equipmentdealer by the dealer agreement, provided the requirements are not substantiallydifferent from those requirements imposed upon other similarly situated dealersin this state.
(b) The supplier may immediately terminate the agreement atany time upon the occurrence of any of the following events:
(1) The filing of a petition for bankruptcy or forreceivership either by or against the dealer;
(2) The making by the dealer of an intentional and materialmisrepresentation as to the dealer's financial status;
(3) Any default by the dealer under a chattel mortgage orother security agreement between the dealer and the supplier;
(4) The commencement of voluntary or involuntary dissolutionor liquidation of the dealer if the dealer is a partnership or corporation;
(5) A change in location of the dealer's principal place ofbusiness as provided in the agreement without the prior written approval of thesupplier;
(6) Withdrawal of an individual proprietor, partner, majorshareholder, or the involuntary termination of the manager of the dealership,or a substantial reduction in the interest of a partner or major shareholderwithout the prior written consent of the supplier.
(c) Unless there is an agreement to the contrary, a dealerwho intends to terminate a dealer agreement with a supplier shall notify thesupplier of that intent not less than one hundred twenty (120) days prior tothe effective date of the termination.
(d) Notification required by either party under this sectionshall be in writing and shall be made by certified mail or by personal deliveryand shall contain:
(1) A statement of intention to terminate the dealeragreement;
(2) A statement of the reasons for the termination; and
(3) The date on which the termination shall be effective.
§ 6-46-3 Notice of termination of dealeragreements. – (a) Notwithstanding any agreement to the contrary, prior to the termination ofa dealer agreement, a supplier shall notify the dealer of the termination notless than one hundred twenty (120) days prior to the effective date of thetermination. No supplier may terminate, cancel, or fail to renew a dealeragreement without cause. For purposes of this subsection "cause" means failureby an equipment dealer to comply with requirements imposed upon the equipmentdealer by the dealer agreement, provided the requirements are not substantiallydifferent from those requirements imposed upon other similarly situated dealersin this state.
(b) The supplier may immediately terminate the agreement atany time upon the occurrence of any of the following events:
(1) The filing of a petition for bankruptcy or forreceivership either by or against the dealer;
(2) The making by the dealer of an intentional and materialmisrepresentation as to the dealer's financial status;
(3) Any default by the dealer under a chattel mortgage orother security agreement between the dealer and the supplier;
(4) The commencement of voluntary or involuntary dissolutionor liquidation of the dealer if the dealer is a partnership or corporation;
(5) A change in location of the dealer's principal place ofbusiness as provided in the agreement without the prior written approval of thesupplier;
(6) Withdrawal of an individual proprietor, partner, majorshareholder, or the involuntary termination of the manager of the dealership,or a substantial reduction in the interest of a partner or major shareholderwithout the prior written consent of the supplier.
(c) Unless there is an agreement to the contrary, a dealerwho intends to terminate a dealer agreement with a supplier shall notify thesupplier of that intent not less than one hundred twenty (120) days prior tothe effective date of the termination.
(d) Notification required by either party under this sectionshall be in writing and shall be made by certified mail or by personal deliveryand shall contain:
(1) A statement of intention to terminate the dealeragreement;
(2) A statement of the reasons for the termination; and
(3) The date on which the termination shall be effective.
§ 6-46-3 Notice of termination of dealeragreements. – (a) Notwithstanding any agreement to the contrary, prior to the termination ofa dealer agreement, a supplier shall notify the dealer of the termination notless than one hundred twenty (120) days prior to the effective date of thetermination. No supplier may terminate, cancel, or fail to renew a dealeragreement without cause. For purposes of this subsection "cause" means failureby an equipment dealer to comply with requirements imposed upon the equipmentdealer by the dealer agreement, provided the requirements are not substantiallydifferent from those requirements imposed upon other similarly situated dealersin this state.
(b) The supplier may immediately terminate the agreement atany time upon the occurrence of any of the following events:
(1) The filing of a petition for bankruptcy or forreceivership either by or against the dealer;
(2) The making by the dealer of an intentional and materialmisrepresentation as to the dealer's financial status;
(3) Any default by the dealer under a chattel mortgage orother security agreement between the dealer and the supplier;
(4) The commencement of voluntary or involuntary dissolutionor liquidation of the dealer if the dealer is a partnership or corporation;
(5) A change in location of the dealer's principal place ofbusiness as provided in the agreement without the prior written approval of thesupplier;
(6) Withdrawal of an individual proprietor, partner, majorshareholder, or the involuntary termination of the manager of the dealership,or a substantial reduction in the interest of a partner or major shareholderwithout the prior written consent of the supplier.
(c) Unless there is an agreement to the contrary, a dealerwho intends to terminate a dealer agreement with a supplier shall notify thesupplier of that intent not less than one hundred twenty (120) days prior tothe effective date of the termination.
(d) Notification required by either party under this sectionshall be in writing and shall be made by certified mail or by personal deliveryand shall contain:
(1) A statement of intention to terminate the dealeragreement;
(2) A statement of the reasons for the termination; and
(3) The date on which the termination shall be effective.
