The wholesaler, manufacturer, or distributor shall make payment of the full repurchase amount to the retailer not later than thirty days after the receipt of inventory as provided for in Section 39-59-30. Upon payment of the repurchase amount to the retailer, the title and right of possession to the repurchased inventory shall transfer to the wholesaler, manufacturer, or distributor.
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.