Texas Business & Commerce Code

§ 57.355 — LIABILITY

BC § 57.355Title 4. BUSINESS OPPORTUNITIES AND AGREEMENTS · Ch. 57. AGRICULTURAL, CONSTRUCTION, INDUSTRIAL, MINING, FORESTRY, LANDSCAPING, AND OUTDOOR POWER EQUIPMENT DEALER AGREEMENTS · Art. H. REPURCHASE OR OTHER OBLIGATIONS FOLLOWING CANCELLATION OR NONRENEWAL OF AGREEMENT

Statute text

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(a)A supplier who refuses to repurchase any inventory covered under this chapter after termination or discontinuation of the dealer agreement is liable to the dealer for:

(1)110 percent of the amount that would have been due for the inventory had the supplier timely complied with the requirements of this chapter;

(2)any freight charges paid by the dealer;

(3)any accrued interest; and

(4)the actual costs of any court or arbitration proceeding incurred by the dealer, including attorney's fees or arbitrator fees.

(b)The supplier and dealer will each pay 50 percent of the costs of freight, at truckload rates, to ship any equipment or repair parts returned to the supplier pursuant to this chapter.

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Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 1039 (H.B. 3079), Sec. 2, eff. September 1, 2011.