Download Zipped Enrolled WordPerfect HB0119.ZIP
[Introduced][Status][Bill Documents][Fiscal Note] [Bills Directory]
H.B. 119 Enrolled
8 LONG TITLE
9 General Description:
10 This bill modifies a powersport vehicle franchisor's obligations upon the termination of
11 a franchise by a franchisee.
12 Highlighted Provisions:
13 This bill:
14 . requires a powersport franchisor to pay certain amounts to a franchisee upon
15 termination of the franchise by the franchisee; and
16 . makes technical changes.
17 Monies Appropriated in this Bill:
19 Other Special Clauses:
21 Utah Code Sections Affected:
23 13-35-307, as enacted by Laws of Utah 2002, Chapter 234
25 Be it enacted by the Legislature of the state of Utah:
26 Section 1. Section 13-35-307 is amended to read:
27 13-35-307. Franchisor's repurchase obligations upon termination or
28 noncontinuation of franchise.
29 (1) (a) [
30 Subsection (1)(b), if a franchise is terminated or not continued by the franchisor or franchisee,
31 the franchisor shall pay the franchisee:
33 the franchisee's inventory acquired from the franchisor or another franchisee of the same
34 line-make representing both the current model year at the time of termination or
35 noncontinuation and the immediately prior model year vehicles[
41 as set forth in the franchisor's catalog at the time of termination or noncontinuation [
45 than the franchisee's depreciated acquisition cost, of each undamaged sign owned by the
46 franchisee that bears a common name, trade name, or trademark of the franchisor if
47 acquisition of the sign was recommended or required by the franchisor[
51 acquisition cost, of all special tools, equipment, and furnishings acquired from the franchisor
52 or sources approved by the franchisor that were recommended or required by the franchisor
53 and are in good and usable condition; and
55 supplies, parts, accessories, signs, special tools, equipment, and furnishings.
56 (b) The franchisor may deduct the sum of all allowances paid or credited to the
57 franchisee by the franchisor from the amount owed under Subsection (1)(a).
58 (c) If a franchisee has a sign with multiple manufacturers listed, the franchisor shall
59 pay only for its pro rata portion of the sign described in Subsection (1)(a)(v).
60 (2) The franchisor shall pay the franchisee the amounts specified in Subsection (1)
61 within 90 days after the tender of the property to the franchisor if the franchisee has:
62 (a) [
63 (b) [
65 (3) If repurchased inventory and equipment are subject to a security interest, the
66 franchisor may make payment jointly to the franchisee and to the holder of the security
[Bill Documents][Bills Directory]