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Vermont Statutes Title 9. Commerce and Trade, § 4092. Dealership facilities assistance upon termination, cancellation, or nonrenewal

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) In the event of a termination, cancellation, or nonrenewal under this chapter; and

(1) the new motor vehicle dealer is leasing the dealership facilities from a lessor other than the manufacturer, the manufacturer shall pay the new motor vehicle dealer a sum equivalent to the rent for the unexpired term of the lease or one year's rent, whichever is less;

(2) if the new motor vehicle dealer owns the dealership facilities, the manufacturer shall pay the new motor vehicle dealer a sum equivalent to the reasonable rental value of the dealership facilities for one year.

(b) If the termination, cancellation, or nonrenewal is pursuant to subdivision 4090(a)(2)(B) of this title, then, with respect to such facilities as were required as a condition of the franchise and used to conduct sales and service operations related to the franchise product, the manufacturer or distributor shall, in addition to the relief described in subsection (a) of this section:

(1) assume the obligations for any lease of the dealership facilities for the unexpired term of the lease or three years' rent, whichever is less;

(2) arrange for a new lease of any dealership facilities; or

(3) negotiate a lease termination for the dealership facilities at the manufacturer's expense.

(c) If, in an action for damages under this section, the manufacturer or distributor fails to prove either that the manufacturer or distributor has acted in good faith or that there was good cause for the franchise termination, cancellation, or nonrenewal, then the court, agency, or commission shall order, in addition to any other damages under this section, that the manufacturer or distributor pay the new motor vehicle dealer an amount equal to the value of the dealership as an ongoing business location.

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Cite this article: FindLaw.com - Vermont Statutes Title 9. Commerce and Trade, § 4092. Dealership facilities assistance upon termination, cancellation, or nonrenewal - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-9-commerce-and-trade/vt-st-tit-9-sect-4092/

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