Legislation

Search OpenLegislation Statutes
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 467
Dealership facilities assistance upon termination, cancellation or nonrenewal
Vehicle & Traffic (VAT) CHAPTER 71, TITLE 4, ARTICLE 17-A
§ 467. Dealership facilities assistance upon termination, cancellation
or nonrenewal. Upon a permitted termination, cancellation or nonrenewal
by the franchisor, unless such termination, cancellation or nonrenewal
is for a reason or reasons set forth in subparagraph three of paragraph
(d) of subdivision two of section four hundred sixty-three of this
article, the franchisor shall assume the obligations for any lease of
the dealership facilities or arrange for a new lease of the dealership
facilities or pay the dealer the lease payments for one year, whatever
is less, or negotiate a lease termination for the dealership facilities
at the franchisor's expense. If the facilities are owned by the
franchised motor vehicle dealer, the franchisor shall pay such dealer a
sum equivalent to the reasonable rental value of the dealership facility
for one year, provided the franchised motor vehicle dealer shall
mitigate damages in the case of an owned facility.