Section 13-58-402 - Termination without time to cureA manufacturer or distributor may terminate an agreement with a motorboat dealer upon written notice and without a cure period described in Section 13-58-302, if:
(1) the motorboat dealer: (a) financially defaults to the manufacturer, the distributor, or a financing source;(b) becomes subject to an order for relief, as defined in 11 U.S.C. Sec. 102;(c) files a voluntary petition in bankruptcy;(d) has had an involuntary petition in bankruptcy filed against the motorboat dealer;(e) engages in an act of material fraud in relation to the performance of a right or obligation under the agreement;(f) is a corporation that ceases to exist;(h) takes or fails to take an action that constitutes an admission of inability to pay debts as the debts mature;(i) makes a general assignment for the benefit of creditors to an agent authorized to liquidate any substantial amount of assets;(j) applies to a court for the appointment of a receiver for any assets or properties;(k) fails to substantially comply with a federal, state, or local law, rule, regulation, ordinance, or order applicable to the agreement;(l) receives three valid notices of a default under Section 13-58-302 for the same default within a 12-month period, regardless of whether the dealer cures the default;(m) transfers an interest in the dealership without the manufacturer's written consent;(n) has pleaded guilty to or has been convicted of a felony, or of any misdemeanor relating to the relationship between the motorboat dealer and manufacturer;(o) or one of the owners of the motorboat dealer is convicted or enters a plea of nolo contendere to a felony; or(p) makes a material misrepresentation;(2) there is a closeout or sale of a substantial part of the dealer's assets related to the motorboat dealership;(3) there is a commencement or dissolution or liquidation of the motorboat dealership;(4) there is a change without the prior written approval of the manufacturer in the location of the motorboat dealer's principal place of business under the dealership agreement; or(5) the motorboat dealer's license is suspended, revoked, or is not renewed.Added by Chapter 185, 2021 General Session ,§ 7, eff. 5/5/2021.