407.1332. Change in ownership, notice — rejection of change, notice.
199 words·~1 min read·
/mo/chapter-407/407-1332A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
407.1332. Change in ownership, notice — rejection of change, notice. — 1. If a recreation vehicle dealer desires to make a change in its ownership by the sale of the business assets, stock transfer, or otherwise, the recreation vehicle dealer must give the manufacturer thirty days' written notice prior to the closing including all supporting documentation as may be required by the manufacturer. The manufacturer shall not refuse to agree to such proposed change or sale and may not disapprove or withhold approval of such change or sale unless the manufacturer can show that its decision is based on manufacturer's reasonable criteria, which may include the prospective transferee's business experience, moral character, financial qualifications and any criminal record.
2. If the manufacturer rejects a proposed change or sale, the manufacturer shall give written notice of its reasons to the recreation vehicle dealer within thirty days after receipt of the dealer notification and complete documentation. If no such notice is given to the recreation vehicle dealer, the change or sale shall be deemed approved.
3. The manufacturer shall have the burden in showing that its rejection of the transfer or sale is reasonable.
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(L. 2001 H.B. 575)
Effective 8-01-02