Text: HSB00123 Text: HSB00125 Text: HSB00100 - HSB00199 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 322F.3, subsection 1, unnumbered 1 2 paragraph 1, Code 2001, is amended to read as follows: 1 3 If a dealership agreement is terminated by cancellation or 1 4 nonrenewal, the supplier must repurchase equipment and parts 1 5 in the dealer's inventory and must repurchase special tools 1 6 and computer hardware or software required for the dealership. 1 7 The repurchase is subject to the following conditions: 1 8 Sec. 2. Section 322F.3, subsection 1, Code 2001, is 1 9 amended by adding the following new paragraphs: 1 10 NEW PARAGRAPH. c. The supplier shall pay to the dealer or 1 11 credit the dealer's account with one hundred percent of the 1 12 amortized value of any specific computer hardware or software 1 13 that the supplier required the dealer to purchase within the 1 14 three years immediately preceding notification by either party 1 15 of an intent to terminate the contract. 1 16 NEW PARAGRAPH. d. The supplier shall pay to the dealer or 1 17 credit the dealer's account with the following amounts for 1 18 special repair tools that were unique to the supplier's 1 19 product line and that are in complete and resalable condition: 1 20 (1) Seventy-five percent of the net cost of special repair 1 21 tools purchased within the three years immediately preceding 1 22 notification by either party of an intent to terminate the 1 23 contract. 1 24 (2) Fifty percent of the net cost of special repair tools 1 25 purchased within the four to six years immediately preceding 1 26 notification by either party of an intent to terminate the 1 27 contract. 1 28 NEW PARAGRAPH. e. The supplier shall only be required to 1 29 repurchase the items described in paragraphs "c" and "d" if 1 30 the items are free and clear of all claims, liens, and 1 31 encumbrances, to the satisfaction of the supplier. 1 32 EXPLANATION 1 33 This bill requires a supplier of agricultural equipment who 1 34 has an agricultural equipment dealership agreement with a 1 35 dealer of agricultural equipment to repurchase certain 2 1 unencumbered items from the dealer upon termination of the 2 2 agreement by cancellation or nonrenewal. The bill requires 2 3 the supplier to repurchase at its amortized value any specific 2 4 computer hardware or software that the supplier required the 2 5 dealer to purchase within the last three years. 2 6 The bill also requires the supplier to repurchase special 2 7 repair tools that were unique to the supplier's product line 2 8 and that are in complete and resalable condition. The 2 9 supplier must pay the dealer 75 percent of the net cost of 2 10 such tools if purchased within the last three years and 50 2 11 percent of the net cost if purchased within the last four to 2 12 six years. 2 13 LSB 2021HC 79 2 14 nh/cls/14
Text: HSB00123 Text: HSB00125 Text: HSB00100 - HSB00199 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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