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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 26. (a) A recreational vehicle dealer shall provide written notice to the recreational vehicle manufacturer or recreational vehicle distributor with whom the recreational vehicle dealer has a recreational vehicle dealer agreement if the recreational vehicle dealer desires to make a change in the ownership of the recreational vehicle dealer at least ten (10) business days before closing. The written notice under this subsection must include all supporting documentation necessary to assist the recreational vehicle manufacturer or recreational vehicle distributor in determining whether to object to the change in ownership.
(b) A recreational vehicle manufacturer or recreational vehicle distributor may object to a proposed change in the ownership of a recreational vehicle dealer if the prospective new owner meets at least one (1) of the following conditions:
(1) The prospective new owner has previously had a recreational vehicle dealer agreement terminated for good cause by a recreational vehicle manufacturer or recreational vehicle distributor.
(2) The prospective new owner has been convicted of a felony or a crime of fraud, deceit, or moral turpitude.
(3) The prospective new owner lacks a license required by law.
(4) The prospective new owner does not have an active line of credit sufficient to purchase recreational vehicles under the recreational vehicle dealer agreement.
(5) In the ten (10) years preceding the prospective change in ownership, the prospective new owner has:
(A) made a declaration of:
(i) insolvency;
(ii) an assignment for the benefit of creditors; or
(iii) bankruptcy; or
(B) had the appointment of a receiver, trustee, or conservator to take possession of the prospective new owner's business or property.
(c) A recreational vehicle manufacturer or recreational vehicle distributor shall answer the written notice under subsection (a) not later than seven (7) business days after receiving the written notice and provide the recreational vehicle dealer with any objections to the proposed change of ownership. The answer under this subsection must include the reasons for the objection. The recreational vehicle manufacturer or recreational vehicle distributor has the burden of proof regarding the reasons contained in its objection. If the recreational vehicle manufacturer or recreational vehicle distributor does not timely answer the written notice under subsection (a), the change of ownership is deemed approved.
Cite this article: FindLaw.com - Indiana Code Title 9. Motor Vehicles § 9-32-19-26 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-9-motor-vehicles/in-code-sect-9-32-19-26/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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