(1) If an equipment dealer dies or becomes incapacitated, the supplier shall repurchase the inventory from the estate pursuant to the inventory repurchase provision of section 35-38-104 as if the supplier had terminated the dealer agreement. The guardian, the executor, or, if the dealer dies intestate, the heirs shall have six months from the date of the dealers incapacity or death to submit inventory for repurchase.
Nothing in this section shall be construed to require a supplier to repurchase inventory if the supplier and a dealer's family member have entered into a new dealer agreement.
Nothing in this section shall be construed to entitle a guardian, heir, or personalrepresentative of an incapacitated or deceased dealer to operate a dealership for more than six months after the dealer's incapacity or death without the consent of the supplier.
This section shall be supplemental to an agreement between the dealer and the supplier that covers the return of equipment, attachments, and repair parts.
Nothing in this section shall be construed to limit the right of a supplier to chargeback to the dealer's account amounts previously paid or credited as a discount pertaining to the equipment dealer's purchase of equipment.
For the purposes of this section, "dealer" means an owner, an equal or majority partner, or the majority stockholder of a corporation who operates as an equipment dealer.
Source: L. 95: Entire article R&RE, p. 371, § 1, effective July 1.
Editor's note: This section is similar to former § 35-38-108 as it existed prior to 1995.