Bill Text: MS HB820 | 2010 | Regular Session | Introduced
Bill Title: Recreational vehicles; require repurchase of inventory by manufacturer when dealer ceases to be a dealer.
Sponsorship: Partisan Bill (Republican 1)
Status: (Failed) 2010-02-02 - Died In Committee [HB820 Detail]
Download: Mississippi-2010-HB820-Introduced.html
MISSISSIPPI LEGISLATURE
2010 Regular Session
To: Judiciary A
By: Representative Frierson
House Bill 820
AN ACT TO REQUIRE MANUFACTURERS OF RECREATIONAL VEHICLES TO REPURCHASE CERTAIN INVENTORY FROM DEALERS WHO CEASE TO ENGAGE IN THE BUSINESS OF SELLING RECREATIONAL VEHICLES; TO PROVIDE A PENALTY FOR THE FAILURE TO REPURCHASE RECREATIONAL VEHICLE INVENTORY AND PARTS; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) (a) In the event that a dealer ceases to engage in the business of being a recreational vehicle dealer, or ceases to sell a particular make of recreational vehicle, and after notice thereof to the manufacturer or distributor by registered or certified mail return receipt requested within thirty (30) days thereafter, the manufacturer or distributor, at a minimum, shall repurchase all new and recreational vehicles of the current and immediate prior model year and all parts on hand that are currently listed in the manufacturer's price book that have not been damaged or substantially altered to the prejudice of the manufacturer while in the possession of the dealer and all required demonstrators.
(b) The manufacturer shall make the required repurchase after the dealer terminates his franchise, selling, or other contractual agreement and within sixty (60) days of the submission by the dealer to the manufacturer, by registered or certified mail return receipt requested, of a final inventory of recreational vehicles and parts on hand.
(2) Failure to make said repurchase without just cause shall subject the manufacturer to a penalty of one and one-half percent (1-1/2%) per month or fraction thereof of the inventory value of returnable recreational vehicles and parts, payable to the dealer, commencing on the sixty-first day following the date of receipt of the final inventory and continuing until such time as said repurchase is made.
(3) For the purposes of this section, the term "recreational vehicle" shall have the meaning ascribed in Section 63-3-103.
SECTION 2. This act shall take effect and be in force from and after July 1, 2010.
