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Current as of January 01, 2023 | Updated by FindLaw Staff
A supplier or an affiliate of a supplier who has an option to purchase, or an option to lease or extend the lease of a facility occupied by a dealer, who determines not to exercise the option, shall offer to assign or otherwise transfer the option to the dealer. The supplier may charge the dealer a reasonable legal and administrative cost for transfer of the option. Options to purchase, or lease or extend the lease of a facility created after May 6, 2000, are assignable to the dealer who occupies the facility. If the dealer exercises the option, the supplier or affiliate is not liable for the performance of the dealer pursuant to the option or the underlying lease after the option is exercised.
Cite this article: FindLaw.com - Minnesota Statutes Commercial Regulations (Ch. 80B-81A) § 80F.15. Assignment of facility lease option - last updated January 01, 2023 | https://codes.findlaw.com/mn/commercial-regulations-ch-80b-81a/mn-st-sect-80f-15/
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 or via Westlaw before relying on it for your legal needs.
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