§ 754.
201 words·~1 min read·
/vt/title-7/chapter-23/754A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 754. Cancellation for good cause; notice; rectification
(a)(1) Except as otherwise provided pursuant to section 753 of this subchapter and subsection
(d)of this section, a certificate of approval holder or manufacturer that wishes to terminate or cancel a franchise for good cause shall provide the franchisee with at least 120 days’ written notice of the intent to terminate or cancel the franchise.
(2)The notice shall state the causes and reasons for the intended termination or cancellation.
(b)A franchisee shall have 120 days in which to rectify any claimed deficiency.
(c)The Superior Court, upon petition and after providing both parties with notice and opportunity for a hearing, shall determine whether good cause exists to allow termination or cancellation of the franchise.
(d)The notice provisions of subsection
(a)of this section may be waived if the reason for termination or cancellation is insolvency, the occurrence of an assignment for the benefit of creditors, bankruptcy, or if the certificate of approval holder or manufacturer is able to prove to the court that providing the required notice would do irreparable harm to the marketing of its product. (Added 2017, No. 145 (Adj. Sess.), § 5, eff. Jan. 1, 2019.)