322F.1 Definitions. As used in this chapter, unless the context otherwise requires: 1. “Agricultural equipment” means a device, part of a device, or an attachment to a device designed to be principally used for an agricultural purpose. “Agricultural equipment” includes but is not limited to equipment associated with livestock or crop production, horticulture, or floriculture. […]
322F.2 Notice of termination. 1. a. A supplier shall terminate a dealership agreement for equipment other than outdoor power equipment by cancellation, nonrenewal, or a substantial change in competitive circumstances only upon good cause and upon at least ninety days’ prior written notice delivered to the dealer by certified mail or restricted certified mail. A […]
322F.3 Termination of agreement — repurchase of equipment. 1. If a dealership agreement is terminated by cancellation or nonrenewal by either the dealer or supplier, the supplier must repurchase equipment and parts in the dealer’s inventory and must repurchase special tools and computer hardware or software required for the dealership. The repurchase is subject to […]
322F.4 Security interests not affected. This chapter shall not be construed to affect the existence or enforcement of a security interest which any person, including a supplier or financial institution, may have in the inventory of the dealer. 90 Acts, ch 1077, §5; 94 Acts, ch 1121, §2
322F.5 Death or incapacity of dealer. If a dealer or a person holding a majority interest in a business entity operating a dealership dies or is incapacitated, the rights under this chapter may be exercised as an option by the heirs at law if the dealer or majority interest holder died intestate, or by the […]
322F.5A Transfer of dealership. 1. If a supplier has contractual authority to approve or deny a request for a sale or transfer of a dealer’s business or an equity ownership interest in the business, the supplier shall approve or deny the request within sixty days after receiving a written request from the dealer. If the […]
322F.6 Assignees and successors in interest. The obligations under this chapter apply to the supplier’s assignee or successor in interest. A successor in interest includes, but is not limited to, a purchaser of assets or stock, a surviving corporation resulting from a merger or liquidation, a receiver, or a trustee of the supplier. 90 Acts, […]
322F.7 Violations. A violation of this chapter includes but is not limited to a supplier doing any of the following: 1. Requires a dealer to accept delivery of equipment that the dealer has not ordered. 2. Requires a dealer to order or accept delivery of equipment with special features or accessories not included in the […]
322F.8 Supplier liability. 1. a. (1) A dealer may bring a legal action against a supplier for damages sustained by the dealer as a consequence of the supplier’s violation of any provision of this chapter, including but not limited to a violation described in section 322F.7. A supplier violating this chapter shall compensate the dealer […]
322F.9 Applicability. 1. A term of a dealership agreement that is inconsistent with the terms of this chapter is void and unenforceable and does not waive any rights that are provided to a person by this chapter. 2. a. For all dealership agreements other than those provided for in this section, this chapter applies to […]
