Section 32-6B-71 - Vehicle dealership--Death of owner--Succession of interest. - South-dakota Statutes

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32-6B-71. Vehicle dealership--Death of owner--Succession of interest. The owner of a vehicle dealership may appoint by trust, will, or any other valid written instrument a successor to the owner's dealership interest upon the owner's death or incapacity. Unless the franchisor has good cause to refuse to honor the succession, the successor may succeed to the ownership of the dealership under the existing franchise if:
(1) Within ninety days of the owner's death or incapacity, the successor gives written notice of the successor's intent to succeed to ownership of the dealership; and
(2) The successor agrees to be bound by all the terms and conditions of the franchise agreement with the prior owner.
Upon request, the successor shall promptly provide the franchisor evidence of the successorship appointment, as well as personal and financial information reasonably necessary to determine whether the succession should be honored by the franchisor.

Source: SL 1998, ch 182, § 1.

State Codes and Statutes

Statutes > South-dakota > Title-32 > Chapter-06b > Statute-32-6b-71

32-6B-71. Vehicle dealership--Death of owner--Succession of interest. The owner of a vehicle dealership may appoint by trust, will, or any other valid written instrument a successor to the owner's dealership interest upon the owner's death or incapacity. Unless the franchisor has good cause to refuse to honor the succession, the successor may succeed to the ownership of the dealership under the existing franchise if:
(1) Within ninety days of the owner's death or incapacity, the successor gives written notice of the successor's intent to succeed to ownership of the dealership; and
(2) The successor agrees to be bound by all the terms and conditions of the franchise agreement with the prior owner.
Upon request, the successor shall promptly provide the franchisor evidence of the successorship appointment, as well as personal and financial information reasonably necessary to determine whether the succession should be honored by the franchisor.

Source: SL 1998, ch 182, § 1.

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State Codes and Statutes

Statutes > South-dakota > Title-32 > Chapter-06b > Statute-32-6b-71

32-6B-71. Vehicle dealership--Death of owner--Succession of interest. The owner of a vehicle dealership may appoint by trust, will, or any other valid written instrument a successor to the owner's dealership interest upon the owner's death or incapacity. Unless the franchisor has good cause to refuse to honor the succession, the successor may succeed to the ownership of the dealership under the existing franchise if:
(1) Within ninety days of the owner's death or incapacity, the successor gives written notice of the successor's intent to succeed to ownership of the dealership; and
(2) The successor agrees to be bound by all the terms and conditions of the franchise agreement with the prior owner.
Upon request, the successor shall promptly provide the franchisor evidence of the successorship appointment, as well as personal and financial information reasonably necessary to determine whether the succession should be honored by the franchisor.

Source: SL 1998, ch 182, § 1.