322A.12 Sale or transfer of ownership.
1. Notwithstanding the terms, provisions, or conditions of an agreement or franchise, subject to the provisions of section 322A.11, subsection 2, in the event of the sale or transfer of ownership of a franchisee’s dealership by sale or transfer of the business or by stock transfer or in the event of a change in the executive management of a franchisee’s dealership, the franchiser shall give effect to the change in the franchise unless the transfer of the franchisee’s license under chapter 322 is denied or the new owner is unable to obtain a license under that chapter.
2. Notwithstanding the terms, provisions, or conditions of an agreement or franchise, the sale or transfer, or the proposed sale or transfer, of a franchisee’s dealership, or the change or proposed change in the executive management of a franchisee’s dealership shall not make applicable any right of first refusal of the franchiser.
[C71, 73, 75, 77, 79, 81, §322A.12]
2002 Acts, ch 1063, §39
Structure Iowa Code
Chapter 322A - MOTOR VEHICLE FRANCHISERS
Section 322A.2 - Discontinuing franchise.
Section 322A.3 - New franchise.
Section 322A.3A - Alteration of franchise.
Section 322A.4 - Additional franchise.
Section 322A.5 - Warranties and recalls.
Section 322A.6 - Application filed with the department.
Section 322A.7 - Department of inspections and appeals to hold hearing.
Section 322A.8 - Continuation.
Section 322A.9 - Burden of proof.
Section 322A.10 - Rules of evidence.
Section 322A.11 - Condition barring change in franchise.
Section 322A.12 - Sale or transfer of ownership.
Section 322A.13 - Compulsory attendance at hearings.
Section 322A.14 - License to dealer denied.
Section 322A.16 - Additional guidelines.
Section 322A.18 - Duty of good faith.
Section 322A.19 - Jurisdiction.
Section 322A.20 - Choice of law.
Section 322A.21 - Waivers void.
Section 322A.22 - Other line-makes.