407.1332. Change in ownership, notice--rejection of change, notice. - Missouri Statutes

Change in ownership, notice--rejection of change, notice.

407.1332. 1. If a recreation vehicle dealer desires to make a changein its ownership by the sale of the business assets, stock transfer, orotherwise, the recreation vehicle dealer must give the manufacturer thirtydays' written notice prior to the closing including all supportingdocumentation as may be required by the manufacturer. The manufacturershall not refuse to agree to such proposed change or sale and may notdisapprove or withhold approval of such change or sale unless themanufacturer can show that its decision is based on manufacturer'sreasonable criteria, which may include the prospective transferee'sbusiness experience, moral character, financial qualifications and anycriminal record.

2. If the manufacturer rejects a proposed change or sale, themanufacturer shall give written notice of its reasons to the recreationvehicle dealer within thirty days after receipt of the dealer notificationand complete documentation. If no such notice is given to the recreationvehicle dealer, the change or sale shall be deemed approved.

3. The manufacturer shall have the burden in showing that itsrejection of the transfer or sale is reasonable.

(L. 2001 H.B. 575)

Effective 8-01-02