66-180. Definitions. As used in this Article, unless the context requires otherwise: (1) "Agreement" means a written or oral contract or agreement between a dealer and a wholesaler, manufacturer, or distributor by which the dealer is granted one or more of the following rights: a. To sell or distribute goods or services. b. To use […]
66-181. Usage of trade. The terms "utility" and "industrial," when used to refer to equipment, implements, machinery, attachments, or repair parts, shall have the meaning commonly used and understood among dealers and suppliers of farm equipment as a usage of trade in accordance with G.S. 25-1-303(c). (1985, c. 441, s. 1; 2006-112, s. 22.)
66-182. Notice of termination of agreements. (a) Notwithstanding any agreement to the contrary, a supplier who terminates or otherwise fails to renew or substantially changes the competitive circumstances of an agreement with a dealer without good cause shall notify the dealer of the termination not less than 90 days prior to the effective date of […]
66-183. Supplier’s duty to repurchase. (a) Whenever a dealer enters into an agreement evidenced by a written or oral contract in which the dealer agrees to maintain an inventory, and the agreement is terminated by either party, the supplier shall repurchase the dealer’s inventory as provided in this Article unless the dealer chooses to keep […]
66-184. Repurchase terms. (a) The supplier shall repurchase from the dealer within 90 days after termination of the agreement all inventory previously purchased from the supplier that remains unsold on the date of termination of the agreement. (b) The supplier shall pay the dealer: (1) One hundred percent (100%) of the current net price of […]
66-185. Exceptions to repurchase requirement. This Article does not require the repurchase from a dealer of: (1) A repair part with a limited storage life or otherwise subject to deterioration, such as gaskets or batteries, except for industrial "press on" or industrial pneumatic tires. (2) A single repair part that is priced as a set […]
66-186. Uniform commercial practice. (a) This Article does not affect a security interest of the supplier in the inventory of the dealer. (b) Repealed by Session Laws 2004-190, s. 4, effective January 1, 2005. (c) The dealer and supplier shall furnish representatives to inspect all parts and certify their acceptability when packed for shipment. Failure […]
66-187. Warranty obligations. (a) Whenever a supplier and a dealer enter into an agreement, the supplier shall pay any warranty claim made by the dealer for warranty parts or service within 30 days after its approval. The supplier shall approve or disapprove a warranty claim within 30 days after its receipt. If a claim is […]
66-187.1. Prohibited acts. No supplier shall do any of the following: (1) Coerce any dealer to accept delivery of equipment, parts, or accessories which the dealer has not ordered voluntarily, except as required by any applicable law, or unless the parts or accessories are safety parts or accessories required by the supplier. (2) Condition the […]
66-188. Failure to repurchase; civil remedy. (a) If a supplier fails or refuses to repurchase any inventory covered under the provisions of this Article within the time periods established in G.S. 66-184, the supplier is civilly liable for one hundred percent (100%) of the current net price of the inventory, any freight charges paid by […]
