13-58-201. Agreement requirement -- Terms of agreements.

200 words·~1 min read·/ut/title-13/chapter-58/13-58-201

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

Effective 5/5/2021

(1)A person may not act as a motorboat dealer in this state without entering into an agreement.

(2)An agreement shall include:

(a)each working capital standard, inventory standard, facility standard, equipment standard, and tool standard, if any, including each agreed upon minimum product stocking requirement;

(b)provisions for termination or nonrenewal of the agreement;

(c)the designation of a successor motorboat dealer in the event of the motorboat dealer's death or disability;

(d)the obligations of the manufacturer, distributor, and motorboat dealer in the preparation and delivery of, and warranty service on, new motorboats and new motorboat motors;

(e)the obligations of the manufacturer, distributor, and new motorboat dealer upon termination of the agreement, including obligations in relation to:

(i)inventory of new motorboats;

(ii)inventory of new motorboat motors;

(iii)inventory of parts;

(iv)equipment;

(v)furnishings;

(vi)special tools; and

(vii)required signs;

(f)each standard for maintenance of:

(i)a dedicated or self-funded line of credit, if any; and

(ii)a trade-in line of credit or self-funded trade-in line of credit, if any; and

(g)dispute resolution procedures.

Enacted by Chapter 185 , 2021 General Session