28-23-108. GUARANTY AND SECURITY AGREEMENT NOTICE REQUIREMENTS. All wholesalers, manufacturers or distributors of farm implements, equipment, machinery, attachments, accessories or repair parts shall give the retailer a minimum of ninety (90) days’ notice in writing and obtain consent from the dealer before changing the time and manner of payment of any indebtedness owed by retailer to manufacturer, distributor or wholesaler, and before taking and making any changes in notes or security for any indebtedness, and before releasing or adding additional guarantors, and before granting renewals or extensions of such indebtedness.
History:
[28-23-108, added 1975, ch. 97, sec. 8, p. 197; am. 2005, ch. 238, sec. 5, p. 734; am. 2011, ch. 270, sec. 8, p. 734.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 23 - REPURCHASE OF FARM MACHINERY AND EQUIPMENT UPON TERMINATION OF CONTRACT
Section 28-23-102 - REPURCHASE OF REPAIR PARTS.
Section 28-23-103 - PROVISIONS OF CONTRACT SUPPLEMENTED.
Section 28-23-104 - DEATH OF DEALER — REPURCHASE FROM HEIRS.
Section 28-23-105 - FAILURE TO PAY SUMS SPECIFIED ON CANCELLATION OF CONTRACTS — LIABILITY.
Section 28-23-106 - EXCEPTIONS.
Section 28-23-107 - DEFINITION.
Section 28-23-108 - GUARANTY AND SECURITY AGREEMENT NOTICE REQUIREMENTS.
Section 28-23-109 - GUARANTY AND SECURITY AGREEMENT PERSONAL ASSET LIMIT.
Section 28-23-110 - PENALTY FOR FAILURE TO GIVE NOTICE OR OBTAIN CONSENT.
Section 28-23-111 - APPLICATION.