482.36396 - Death of dealer: Termination of franchise prohibited if dealer designates successor in interest; primary and alternate successors in interest. - Nevada Statutes

482.36396  Death of dealer: Termination of franchise prohibited if dealer designates successor in interest; primary and alternate successors in interest.

      1.  On or after January 1, 1986, no manufacturer or distributor may include in any franchise agreement whose duration exceeds 1 year any provision which calls for the termination of the franchise by the manufacturer or distributor upon the death of the dealer if the dealer, in a form prescribed by and delivered to the manufacturer or distributor, designates as successor in interest his or her spouse or an adult child, who meets the current requirements for a franchise.

      2.  A dealer may designate a primary and one alternate successor in interest. An alternate successor in interest has no rights under NRS 482.36396 to 482.36412, inclusive, in the event of any exercise of rights by the primary successor in interest.

      (Added to NRS by 1985, 1829)