§ 3-5-1103 - Applicability of subchapter to future agreements -- Transferee continues under agreement. - Arkansas Statutes

3-5-1103. Applicability of subchapter to future agreements -- Transferee continues under agreement.

(a) This subchapter shall apply to agreements entered into or renewed after January 31, 1991.

(b) (1) A transferee of a wholesaler that continues in business as a wholesaler shall have the benefit of and be bound by all terms and conditions of the agreement with the supplier in effect on the date of the transfer.

(2) However, a transfer of a wholesaler's business which requires the supplier's consent or approval but is disapproved by the supplier shall be null and void.