New RV dealership, restrictions on operation or ownership by a manufacturer

1. A manufacturer shall be prohibited from owning or operating a new RV dealership in this state. It is not a violation of this section for a manufacturer to own or operate a new RV dealership: (1) For a temporary period of not more than sixty months if the dealership is for sale at a reasonable price and on reasonable terms and conditions to an independent qualified buyer; or (2) In a bona fide relationship with an independent person who: (a) Is required to make a significant investment in the new RV dealership subject to loss; and (b) Operates the dealership and can reasonably expect to acquire full ownership of the dealership within a reasonable time and under reasonable terms and conditions; or (3) If the manufacturer has no other dealers of the same line-make in this state. 2. Nothing in this section shall be deemed to prohibit a manufacturer from owning a minority interest in an entity that owns RV dealerships of the same line-make manufactured and sold through dealers in this state by the manufacturer, provided that all of the following conditions are met at the time of acquisition and continue to be met during the time the entity maintains ownership: (1) The interest owned by the manufacturer in said entity shall not exceed forty-five percent of the total ownership; (2) All the manufacturer's dealer agreements confer rights on the dealer of the line-make to develop and operate, within a defined geographic territory or area, in as many dealership facilities as the dealer and manufacturer shall agree are appropriate. 3. Subsections 1 and 2 of this section shall not apply to manufacturers that own or operate an RV dealership in this state as of August 28, 2001.