(a) The state or federal license of the wholesaler has been revoked or suspended for a period of more than 31 days;
(b) The wholesaler is insolvent within the definition of section 101, title 11, United States Code, or there has been a liquidation, dissolution or assignment for the benefit of creditors of substantially all of the assets of the wholesaler’s business, or an order for relief under chapter 7, title 11, United States Code, has been entered with respect to the wholesaler;
(c) The wholesaler, or any individual who holds or owns 10 percent or more of the stock or value of the wholesaler, has been convicted of, or pleads guilty to, a felony;
(d) The wholesaler has committed a fraud in its dealings with the supplier or the supplier’s products;
(e) The wholesaler makes a substantial misrepresentation to the supplier which the wholesaler knew to be false and which the supplier relied upon to its detriment;
(f) An assignment of the wholesaler’s rights under a distribution agreement, or a change of a controlling ownership interest, other than that caused by the death or legal incapacity of the wholesaler, has been made without written notice as provided in the written distribution agreement, and the supplier has given written notice to the wholesaler of the supplier’s intention to terminate on the grounds of transfer without notice unless the transfer was reversed within 30 days from receipt of the notice; or
(g) An assignment of wholesaler’s rights is made despite timely and proper notice of disapproval.
(2) In the event of a termination pursuant to this section, the termination shall become effective upon the wholesaler’s receipt of written notice thereof. [1989 c.529 §4]