Section 401 – Termination or nonrenewal of agreement — Notice — Repurchase obligations.
Effective 5/5/2021 13-58-401. Termination or nonrenewal of agreement — Notice — Repurchase obligations. (1) Except as provided in Section 13-58-402, a manufacturer or distributor may not terminate or fail to renew an agreement with a motorboat dealer unless: (a) the motorboat dealer defaults as described in Section 13-58-301; (b) the manufacturer or distributor gives the […]
Section 402 – Termination without time to cure.
Effective 5/5/2021 13-58-402. Termination without time to cure. A manufacturer or distributor may terminate an agreement with a motorboat dealer upon written notice and without a cure period described in Section 13-58-302, if: (1) the motorboat dealer: (a) financially defaults to the manufacturer, the distributor, or a financing source; (b) becomes subject to an order […]
Section 302 – Cure of default.
Effective 5/4/2022 13-58-302. Cure of default. (1) If a motorboat dealer defaults as described in Section 13-58-301, the manufacturer or distributor who is part of the agreement shall: (a) give the dealer written notice of the dealer’s default; and (b) allow the dealer to cure the default within the period described in Subsection (2). (2) […]
Section 201 – Agreement requirement — Terms of agreements.
Effective 5/5/2021 13-58-201. Agreement requirement — Terms of agreements. (1) A person may not act as a motorboat dealer in this state without entering into an agreement. (2) An agreement shall include: (a) each working capital standard, inventory standard, facility standard, equipment standard, and tool standard, if any, including each agreed upon minimum product stocking […]
Section 301 – Motorboat dealer default.
Effective 5/5/2021 13-58-301. Motorboat dealer default. A motorboat dealer defaults on an agreement if the motorboat dealer: (1) materially fails to: (a) meet minimum product stocking requirements as specified under the agreement; (b) make timely payment of a material obligation as specified under the agreement; or (c) meet an applicable standard, as specified by the […]