13-14a-3 - Right of return on death of dealer -- Continuation of business by heirs or survivors -- Right to sell business. - Utah Statutes

13-14a-3. Right of return on death of dealer -- Continuation of business by heirs orsurvivors -- Right to sell business.
(1) Upon the death of a dealer, the death of a general partner in a partnership operating asa dealer, or the death of a majority shareholder in a corporation operating as a dealer, themanufacturer or wholesaler shall repurchase the inventory under Section 13-14a-2.
(2) Subsection (1) does not apply if the heirs of the decedent, the remaining partners, orthe remaining shareholders elect to continue to operate the dealership and reaffirm an existingagreement or enter into a new agreement with the manufacturer or wholesaler within 180 days orany longer period as they may agree.
(3) A manufacturer may not unreasonably withhold approval of a new sales agreementfrom a third party if:
(a) the dealer elects to sell the dealer's business to the third party; or
(b) on the death of a dealer, the death of a general partner in a partnership operating as adealer, or the death of a majority shareholder in a corporation operating as a dealer, the heirs ofthe decedent, the remaining partners, or the remaining shareholders elect to sell the business to thethird party.

Amended by Chapter 317, 1995 General Session