§ 6-50-5. Repurchase of inventories.
If a dealership is terminated by the grantor, the grantor, at the option of the dealer, shall repurchase all inventories sold by the grantor to the dealer for resale under the dealership agreement at the fair, wholesale market value. This section applies only to merchandise with a name, trademark, label, or other mark on it which identifies the grantor.
History of Section.P.L. 2007, ch. 28, § 1; P.L. 2007, ch. 36, § 1; P.L. 2014, ch. 528, § 37.
Structure Rhode Island General Laws
Title 6 - Commercial Law – General Regulatory Provisions
Chapter 6-50 - The Rhode Island Fair Dealership Act
Section 6-50-1. - Short title.
Section 6-50-2. - Definitions.
Section 6-50-3. - Purposes — Rules of construction — Variation by contract.
Section 6-50-4. - Notice of termination or change in dealership.
Section 6-50-5. - Repurchase of inventories.
Section 6-50-6. - Application to arbitration agreements.
Section 6-50-7. - Action for damages and injunctive relief.