61-4-132. Right of designated family member to succeed in dealership ownership.
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/mt/title-61/chapter-4/part-1/61-4-132·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
61-4-132 . Right of designated family member to succeed in dealership ownership.
(1)Any designated family member of a retiring, deceased, or incapacitated dealer may succeed the dealer in the ownership or operation of the dealership under the existing franchise or distribution agreement upon the retiring dealer or the family member of a deceased or incapacitated dealer giving the manufacturer, factory branch, distributor, or importer of new motor vehicles written notice of the intention to succeed the dealer in the ownership or operation of the dealership within 120 days prior to the dealer's expected date of retirement or within 120 days after the death or incapacity of the dealer. The manufacturer, factory branch, distributor, or importer may refuse to honor the notice of succession only for good cause in the manner provided for in 61-4-133 .
(2)The manufacturer, factory branch, distributor, or importer may request, and the designated family member shall provide, on request, personal and financial data that is reasonably necessary to determine whether the succession should be honored. The designated family member must meet the manufacturer's, factory branch's, distributor's, or importer's reasonable, uniformly applied written requirements to be a dealer. If the designated family member lacks experience required to meet those requirements, then the manufacturer shall allow the successor a reasonable amount of time to meet those requirements provided that during the period, the successor employs an individual who is qualified and experienced as a general manager to manage the day-to-day operations of the motor vehicle dealership.