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Home » US Law » 2022 Maryland Statutes » Commercial Law » Title 19 - Equipment Dealer Contract Act » Subtitle 2 - Repurchase Requirements and Terms

Section 19-201 – Repurchase of Inventory

    (a)    (1)    Subject to § 19-203 of this subtitle, whenever a dealer enters into a contract in which the dealer agrees to maintain inventory and the contract is terminated by either party, the supplier shall repurchase the dealer’s inventory on the terms specified in § 19-202 of this subtitle unless the dealer chooses to keep the inventory. […]

Section 19-202 – Terms of Repurchase

    (a)    Within 90 days after termination of the contract the supplier shall repurchase from the dealer all inventory, previously purchased from the supplier, that remains unsold on the date the contract terminates.     (b)    (1)    The supplier shall pay the dealer:             (i)    100 percent of the current net price of all new, unused, unsold, undamaged, and complete farm, construction, utility, […]

Section 19-203 – Exceptions

    This title does not require the repurchasing from a dealer of:         (1)    A repair part with a limited storage life or otherwise subject to deterioration, such as a gasket or battery, except for industrial “press on” industrial pneumatic tires;         (2)    A single repair part that is priced as a set of two or more items;         (3)    A repair […]

Section 19-204 – Scope; Certification of Shipped Parts

    (a)    This title does not affect a security interest of the supplier in the inventory of the dealer.     (b)    Repurchase of inventory under this title is not subject to the bulk transfers provisions of Title 6 of this article.     (c)    (1)    The dealer and supplier shall furnish representatives to inspect all parts and certify their acceptability when packed for […]

Section 19-205 – Warranty Claims

    (a)    (1)    When a supplier and a dealer enter into a contract, the supplier shall pay a warranty claim made by the dealer for warranty parts or service within 30 days after its approval.         (2)    The supplier shall approve or disapprove a warranty claim within 30 days after its receipt.         (3)    If a claim is disapproved, the manufacturer, wholesaler, […]