Text: HF00468 Text: HF00470 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 HOUSE FILE 469 1 2 1 3 AN ACT 1 4 REQUIRING AGRICULTURAL EQUIPMENT SUPPLIERS TO REPURCHASE 1 5 CERTAIN ITEMS UPON TERMINATION OF AN AGRICULTURAL EQUIPMENT 1 6 DEALERSHIP AGREEMENT. 1 7 1 8 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 1 9 1 10 Section 1. Section 322F.3, subsection 1, unnumbered 1 11 paragraph 1, Code 2001, is amended to read as follows: 1 12 If a dealership agreement is terminated by cancellation or 1 13 nonrenewal, the supplier must repurchase equipment and parts 1 14 in the dealer's inventory and must repurchase special tools 1 15 and computer hardware or software required for the dealership. 1 16 The repurchase is subject to the following conditions: 1 17 Sec. 2. Section 322F.3, subsection 1, Code 2001, is 1 18 amended by adding the following new paragraphs: 1 19 NEW PARAGRAPH. c. The supplier shall pay to the dealer or 1 20 credit the dealer's account with the amortized value of any 1 21 specific computer hardware or software that the supplier 1 22 required the dealer to purchase within the five years 1 23 immediately preceding notification by either party of an 1 24 intent to terminate the contract. 1 25 NEW PARAGRAPH. d. The supplier shall pay to the dealer or 1 26 credit the dealer's account with the following amounts for 1 27 special repair tools that were unique to the supplier's 1 28 product line and that are in complete and resalable condition: 1 29 (1) Seventy-five percent of the net cost of special repair 1 30 tools purchased within the three years immediately preceding 1 31 notification by either party of an intent to terminate the 1 32 contract. 1 33 (2) Fifty percent of the net cost of special repair tools 1 34 purchased within the four to six years immediately preceding 1 35 notification by either party of an intent to terminate the 2 1 contract. 2 2 NEW PARAGRAPH. e. The supplier shall only be required to 2 3 repurchase the items described in paragraphs "c" and "d" if 2 4 the items are free and clear of all claims, liens, and 2 5 encumbrances, to the satisfaction of the supplier. 2 6 2 7 2 8 2 9 BRENT SIEGRIST 2 10 Speaker of the House 2 11 2 12 2 13 2 14 MARY E. KRAMER 2 15 President of the Senate 2 16 2 17 I hereby certify that this bill originated in the House and 2 18 is known as House File 469, Seventy-ninth General Assembly. 2 19 2 20 2 21 2 22 MARGARET THOMSON 2 23 Chief Clerk of the House 2 24 Approved , 2001 2 25 2 26 2 27 2 28 THOMAS J. VILSACK 2 29 Governor
Text: HF00468 Text: HF00470 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
© 2001 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Mon Jun 18 13:36:15 CDT 2001
URL: /DOCS/GA/79GA/Legislation/HF/00400/HF00469/010412.html
jhf