§ 66-188. Failure to repurchase; civil remedy. - North Carolina Statutes

§ 66‑188.  Failure torepurchase; civil remedy.

(a)        If a supplier failsor refuses to repurchase any inventory covered under the provisions of thisArticle within the time periods established in G.S. 66‑184, the supplieris civilly liable for one hundred percent (100%) of the current net price ofthe inventory, any freight charges paid by the dealer, the dealer's reasonableattorney's fee and court costs, and interest on the current net price of theinventory computed at the legal rate of interest from the 91st day aftertermination of the agreement.

(b)        Notwithstanding anyagreement to the contrary, and in addition to any other legal remediesavailable, any person who suffers monetary loss due to a violation of thisArticle or because he refuses to accede to a proposal for an arrangement that,if consummated, is in violation of this Article, may bring a civil action toenjoin further violations and to recover damages sustained by him together withthe costs of the suit, including a reasonable attorney's fee.

(b1)      The provisions ofG.S. 66‑182 through G.S. 66‑187.1 shall not be waivable in anycontract or agreement, and any such attempted waiver shall be null and void.

(c)        A civil actioncommenced under the provisions of this Article shall be brought within fouryears after the violation complained of is or reasonably should have beendiscovered, whichever occurs first. (1985, c. 441, s. 1; 2001‑343, s. 1.)