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Current as of May 05, 2022 | Updated by FindLaw Staff
(1) A person may not act as a motorboat dealer in this state without entering into an agreement.
(2) An agreement shall include:
(a) each working capital standard, inventory standard, facility standard, equipment standard, and tool standard, if any, including each agreed upon minimum product stocking requirement;
(b) provisions for termination or nonrenewal of the agreement;
(c) the designation of a successor motorboat dealer in the event of the motorboat dealer's death or disability;
(d) the obligations of the manufacturer, distributor, and motorboat dealer in the preparation and delivery of, and warranty service on, new motorboats and new motorboat motors;
(e) the obligations of the manufacturer, distributor, and new motorboat dealer upon termination of the agreement, including obligations in relation to:
(i) inventory of new motorboats;
(ii) inventory of new motorboat motors;
(iii) inventory of parts;
(iv) equipment;
(v) furnishings;
(vi) special tools; and
(vii) required signs;
(f) each standard for maintenance of:
(i) a dedicated or self-funded line of credit, if any; and
(ii) a trade-in line of credit or self-funded trade-in line of credit, if any; and
(g) dispute resolution procedures.
Cite this article: FindLaw.com - Utah Code Title 13. Commerce and Trade § 13-58-201. Agreement requirement--Terms of agreements - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-13-commerce-and-trade/ut-code-sect-13-58-201/
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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