Mich. Comp. Laws § 445.1451
Short title.
This act shall be known and may be cited as the "farm and utility equipment act".
Michigan Compiled Laws — FARM AND UTILITY EQUIPMENT ACT (Act 341 of 1984)
Michigan · statute · 341 of 1984, Mich. Comp. Laws · 11 active provisions
Mich. Comp. Laws § 445.1452
Definitions.
As used in this act unless the context clearly requires otherwise: (a) "Attachments" means machinery or any part of a piece of machinery designed to be used on or in conjunction with farm tractors, farm equipment, utility tractors, and utility equipment. (b) "Current net price" means the price listed in the supplier's…
Mich. Comp. Laws § 445.1453
Repurchase of inventory on termination of agreement; election to keep inventory.
If a dealer enters into an agreement with a supplier and the agreement is subsequently terminated, the supplier shall repurchase any inventory of the dealer as provided in this act. The dealer may choose to keep the inventory if there exists a contractual right to do so.
Mich. Comp. Laws § 445.1454
Repurchase amount; handling, packing, and loading; effect of payment; subtraction of debts; shipment; undeliverable or unaccepted goods; notice of intent to return; duties of supplier; duties of escrow agent; warranty claims.
(1) The supplier shall pay 100% of the net cost of all undamaged and complete tractors, equipment, and attachments, which were purchased within 30 months of the termination of the agreement, less an allowance for usage for demonstration or usage for rental, provided the dealer's demonstration and rental programs are no…
Mich. Comp. Laws § 445.1455
Provisions supplemental; election of remedies; effect of electing contract remedy; charge back.
(1) The provisions of this act are supplemental to any agreement between the dealer and the supplier governing the return of inventory and the dealer may elect to pursue either a contract remedy or the remedy provided in this act. With respect to a dealer located in this state, a remedy provided for in this act shall n…
Mich. Comp. Laws § 445.1456
Exceptions to repurchase requirement.
The provisions of this act shall not require the repurchase of the following by a supplier from a dealer: (a) Any perishable repair part included in a list of parts with shelf lives published by the supplier and provided to the dealer before termination, the shelf life of which has elapsed before the termination, or wh…
Mich. Comp. Laws § 445.1457
Liability of supplier or manufacturer failing or refusing to pay or credit account of dealer; right of dealer to bring action.
(1) If any supplier fails or refuses to pay or credit the account of the dealer for any inventory required to be repurchased by section 3 within 90 days after receipt by the supplier of that inventory, he or she shall be liable for 100% of the net cost of all tractors, equipment, and attachments returned or the current…
Mich. Comp. Laws § 445.1457a
Notice of termination, cancellation, nonrenewal, or substantial change in competitive circumstances.
(1) A supplier shall not terminate, cancel, fail to renew, or substantially change the competitive circumstances of an agreement without good cause. A supplier shall provide a dealer at least 90 days' prior written notice of termination, cancellation, nonrenewal, or substantial change in competitive circumstances. The…
Mich. Comp. Laws § 445.1458
Death of dealer or majority stockholder or partner; options of heirs; time limitation; new franchise agreement.
(1) Upon the death of the dealer or the majority stockholder of a corporation or a partner in a partnership operating as a dealer, the supplier shall, at the option of the heirs, repurchase the inventory from the surviving spouse or the heir or heirs of the dealer or majority stockholder as if the contract had been ter…
Mich. Comp. Laws § 445.1459
Security interest in inventory not affected.
The provisions of this act shall not be construed to affect in any way any security interest that any financial institution, person, or supplier has in the inventory of the dealer.
Mich. Comp. Laws § 445.1460
Applicability of act.
The provisions of this act shall apply to all agreements, contracts, sales agreements, security agreements, or franchise agreements written or implied in force and effect on or after January 2, 1990.