Texas Business & Commerce Code

§ 57.357 — AGREEMENT TERMINATED BY DEALER; INAPPLICABILITY OF SUBCHAPTER TO CERTAIN SPECIALTY SUPPLIERS

BC § 57.357Title 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)This subchapter does not apply to a specialty agricultural equipment supplier if the dealer terminates the dealer agreement without good reason. A dealer has good reason to terminate the dealer agreement for any of the following reasons:

(1)the death or disability of a majority owner of the dealership;

(2)the dealership terminates the dealer agreement and:

(A)substantially all of the dealership assets or all shares of stock of the dealership are sold to a new owner; and

(B)no owner of the terminated dealership continues to own an interest in the continuing dealership;

(3)the filing of bankruptcy by or against the dealership that has not been discharged within 30 days after the date of the filing, the appointment of a receiver, or an assignment for the benefit of creditors; or

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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.