MCL - Act 341 of 1984
AN ACT to provide for the compensation for or repurchase of certain farm tractors, attachments, equipment, and utility tractors and equipment by certain manufacturers or suppliers subject to certain dealer, wholesaler, or distributor agreements; to provide for the repurchase of certain repair parts; to impose certain duties and responsibilities on certain persons; and to provide certain remedies.
History: 1984, Act 341, Imd. Eff. Dec. 27, 1984
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Am. 1989, Act 296, Imd. Eff. Jan. 3, 1990
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Am. 1995, Act 86, Imd. Eff. June 20, 1995
| Document | Type | Description |
|---|---|---|
| Section 445.1451 | Section | Short title. |
| Section 445.1452 | Section | Definitions. |
| Section 445.1453 | Section | Repurchase of inventory on termination of agreement; election to keep inventory. |
| Section 445.1454 | Section | Repurchase amount; handling, packing, and loading; effect of payment; subtraction of debts; shipment; undeliverable or unaccepted goods; notice of intent to return; duties of supplier; duties of escrow agent; warranty claims. |
| Section 445.1455 | Section | Provisions supplemental; election of remedies; effect of electing contract remedy; charge back. |
| Section 445.1456 | Section | Exceptions to repurchase requirement. |
| Section 445.1457 | Section | Liability of supplier or manufacturer failing or refusing to pay or credit account of dealer; right of dealer to bring action. |
| Section 445.1457a | Section | Notice of termination, cancellation, nonrenewal, or substantial change in competitive circumstances. |
| Section 445.1458 | Section | Death of dealer or majority stockholder or partner; options of heirs; time limitation; new franchise agreement. |
| Section 445.1459 | Section | Security interest in inventory not affected. |
| Section 445.1460 | Section | Applicability of act. |