Section 37-5-7 - Determination of prices to be paid to dealer on cancellation of contract. - South Dakota Statutes

37-5-7. Determination of prices to be paid to dealer on cancellation of contract. The prices of merchandise required to be paid to any dealer as provided in § 37-5-5, shall be determined by taking one hundred percent of the net cost of the merchandise, and ninety-five percent of the current net price of repair parts for the merchandise as shown upon the manufacturer's, wholesaler's, or distributor's price lists or catalogues in effect at the time the contract is canceled or discontinued. The prices for any specialized computer hardware and software, specialized tool, or signage shall be as specified in § 37-5-5.5. For purposes of §§ 37-5-5 to 37-5-9, inclusive, if any dealer has actual proof of purchase of any repair parts or other merchandise from any manufacturer, wholesaler, or distributor, or its predecessor, the repair parts even though not currently listed in any price list or catalog and all other merchandise, purchased within ten years of the dealership cancellation or termination shall be repurchased at the original purchase price.

Source: SL 1969, ch 206, § 2; SL 1970, ch 219, § 5; SL 1973, ch 200, § 2; SDCL Supp, § 37-5-1.1; SL 1989, ch 336, § 2; SL 1995, ch 228, § 5; SL 2000, ch 201, § 2; SL 2001, ch 212, § 3; SL 2004, ch 254, § 9.