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ROBERT L. EHRLICH, JR., Governor
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Ch. 433
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(C) NOTWITHSTANDING ANY AGREEMENT TO THE CONTRARY, A DEALER WHO
TERMINATES A CONTRACT WITH A SUPPLIER SHALL NOTIFY THE SUPPLIER OF THE
TERMINATION WITHIN 90 DAYS PRIOR TO THE EFFECTIVE DATE OF THE
TERMINATION.
(D) EACH NOTIFICATION REQUIRED UNDER THIS SECTION SHALL:
(1) BE IN WRITING;
(2) CONTAIN:
(I) A STATEMENT OF INTENTION TO TERMINATE THE CONTRACT;
(II) A STATEMENT OF THE REASONS FOR THE TERMINATION; AND
(III) THE DATE ON WHICH THE TERMINATION TAKES EFFECT; AND
(3) BE DELIVERED TO THE SUPPLIER OR DEALER BY:
(I) CERTIFIED MAIL; OR
(II) PERSONAL DELIVERY.
19-201.
(a) (1) Subject to [§ 19-102] § 19-203 of this title, whenever a DEALER
ENTERS INTO A contract [between a dealer and a supplier] IN WHICH THE DEALER
AGREES TO MAINTAIN INVENTORY AND THE CONTRACT is terminated by either party,
the supplier shall repurchase the dealer's inventory on the terms specified in §
19-202 of this [title] SUBTITLE UNLESS THE DEALER CHOOSES TO KEEP THE
INVENTORY.
(2) IF THE DEALER HAS ANY OUTSTANDING DEBTS TO THE SUPPLIER,
THE REPURCHASE AMOUNT MAY BE SET OFF OR CREDITED TO THE RETAILER'S
ACCOUNT.
(b) (1) [In the event that a dealer, who is an individual and a party to a
contract,] IF A DEALER ENTERS INTO A CONTRACT IN WHICH THE DEALER AGREES
TO MAINTAIN INVENTORY AND THE DEALER OR THE MAJORITY STOCKHOLDER OF
THE DEALER, IF THE DEALER IS A CORPORATION, dies or is adjudicated incompetent,
the SUPPLIER SHALL, AT THE OPTION OF THE HEIR [decedent's heirs or legatees, or
the individual's guardian or other fiduciary], PERSONAL REPRESENTATIVE, OR
GUARDIAN OF THE DEALER, OR THE PERSON THAT SUCCEEDS TO THE STOCK OF THE
MAJORITY STOCKHOLDER IF THE DEALER IS A CORPORATION, [may require the
supplier to] repurchase the inventory as if the contract had been terminated.
(2) An [heir or legatee or a] HEIR, PERSONAL REPRESENTATIVE,
[guardian] GUARDIAN, or [other fiduciary] SUCCEEDING STOCKHOLDER has 1 year
from the date of the death or adjudication of incompetency OF THE DEALER OR
MAJORITY SHAREHOLDER to exercise the option provided under this subsection.
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- 2005 -
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