Agreement requirement -- Terms of agreements

(1) A person may not act as a motorboat dealer in this state without entering into an agreement. (2) An agreement shall include: (a) each working capital standard, inventory standard, facility standard, equipment standard, and tool standard, if any, including each agreed upon minimum product stocking requirement; (b) provisions for termination or nonrenewal of the agreement; (c) the designation of a successor motorboat dealer in the event of the motorboat dealer's death or disability; (d) the obligations of the manufacturer, distributor, and motorboat dealer in the preparation and delivery of, and warranty service on, new motorboats and new motorboat motors; (e) the obligations of the manufacturer, distributor, and new motorboat dealer upon termination of the agreement, including obligations in relation to: (i) inventory of new motorboats; (ii) inventory of new motorboat motors; (iii) inventory of parts; (iv) equipment; (v) furnishings; (vi) special tools; and (vii) required signs; (f) each standard for maintenance of: (i) a dedicated or self-funded line of credit, if any; and (ii) a trade-in line of credit or self-funded trade-in line of credit, if any; and (g) dispute resolution procedures.