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
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