SB 124/FN (BR 1733) - M. Long, J. Pendleton
AN ACT relating to retailers of farm implements.
Create a new section of KRS 365.800 to 365.840, regarding farm implement dealers, to clarify the relationship between a retailer and a wholesaler, manufacturer, or distributor of inventory when a franchise agreement is terminated for reasons other than fraud, financial delinquency, or illegal acts; allow a dealer sufficient time to procure a buyer for the franchise; require manufacturer or wholesaler to approve financially qualified buyers; mandate that if a manufacturer or distributor rejects a buyer on the basis of suitability, the manufacturer or distributor shall purchase the business; specify items that must be purchased; give dealers the option to retain buildings and property they own and require reimbursement for the cost of improvements required by the manufacturer or distributor; amend KRS 365.820 to conform.
Jan 22-introduced in Senate
Jan 25-to Appropriations and Revenue (S)
Mar 21-reported favorably, 1st reading, to Consent Calendar
Mar 22-2nd reading, to Rules
Mar 26-posted for passage in the Consent Orders of the Day for Tuesday, March 26, 2002; 3rd reading, passed 38-0
Mar 27-received in House
Mar 28-to Judiciary (H)