Whenever any retailer enters into a franchise agreement, evidenced by a written contract, or oral contract with a wholesaler, manufacturer, or distributor wherein the retailer agrees to maintain an inventory and the contract is terminated, the wholesaler, manufacturer, or distributor shall repurchase the inventory as provided in this chapter. The retailer may keep the inventory if he desires. If the retailer has any outstanding debts to the wholesaler, manufacturer, or distributor, then the repurchase amount may be credited to the retailer's account.
HISTORY: 1984 Act No. 326.
Structure South Carolina Code of Laws
Chapter 59 - Franchise Agreements Relating To Retail And Repurchase Of Farm Implements, Etc.
Section 39-59-10. Definitions.
Section 39-59-20. Repurchase of inventory upon termination of franchise agreement.
Section 39-59-30. Repurchase of inventory within ninety days; handling costs.
Section 39-59-40. Repurchase amount due within thirty days; title to inventory.
Section 39-59-50. Limitations upon repurchase of certain inventory.
Section 39-59-60. Liability for failure to make timely repurchase of inventory.
Section 39-59-70. Repurchase of inventory upon death or incapacity of retailer.
Section 39-59-80. Security interests in inventory.
Section 39-59-90. Audit of books or records.
Section 39-59-100. Warranty claims.
Section 39-59-110. Indemnification of retailer.