407.870. Inventory which does not qualify for repurchase.

231 words·~1 min read·/mo/chapter-407/407-870

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

407.870. Inventory which does not qualify for repurchase. — The provisions of sections 407.850 to 407.885 shall not require the repurchase from a retailer of:

(1)Any repair part which because of its condition is not resalable as a new part without repackaging or reconditioning;

(2)Any inventory for which the retailer is unable to furnish evidence, satisfactory to the wholesaler, manufacturer or distributor, of title, free and clear of all claims, liens and encumbrances;

(3)Any inventory which the retailer desires to keep, provided the retailer has a contractual right to do so;

(4)Any equipment, implements, machinery, and attachments which are not in new, unused, undamaged, or complete condition;

(5)Any repair parts which are not in new, unused, or undamaged condition;

(6)Any equipment, implements, machinery or attachments which were purchased twenty-four months or more prior to notice of termination of the contract;

(7)Any inventory which was ordered by the retailer on or after the date of notification of termination of the contract;

(8)Any inventory which was acquired by the retailer from any source other than the wholesaler, manufacturer or distributor or transferee of such wholesaler, manufacturer or distributor unless such inventory was acquired from any source authorized or arranged by the manufacturer.

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(L. 1982 H.B. 958 § 5, A.L. 1987 S.B. 35, A.L. 2000 H.B. 1142, A.L. 2002 H.B. 1348 merged with H.B. 2008)