The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9 V.S.A. § 4073)
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§ 4073. Supplier’s duty to repurchase inventory
(a) Whenever a dealer enters into a dealer agreement under which the dealer agrees to
maintain an inventory, and the agreement is terminated by either party as provided
in this chapter, the supplier, upon written request of the dealer filed within 30
days of the effective date of the termination, shall repurchase the dealer’s inventory
as provided in this chapter. There shall be no requirement for the supplier to repurchase
inventory pursuant to this section if:
(1) the dealer has made an intentional and material misrepresentation as to the dealer’s
financial status;
(2) the dealer has defaulted under a chattel mortgage or other security agreement between
the dealer and supplier; or
(3) the dealer has filed a voluntary petition in bankruptcy.
(b) Whenever a dealer enters into a dealer agreement in which the dealer agrees to maintain
an inventory and the dealer or the majority stockholder of the dealer, if the dealer
is a corporation, dies, or becomes incompetent, the supplier shall, at the option
of the heir, personal representative, or guardian of the dealer or the person who
succeeds to the stock of the majority stockholder, repurchase the inventory as if
the agreement had been terminated. The heir, personal representative, guardian, or
succeeding stockholder has 180 days from the date of the death of the dealer or majority
stockholder to exercise the option under this chapter. (Added 1993, No. 113 (Adj. Sess.), § 1, eff. March 4, 1994.)