Section 1454 - Cancellation1.Good cause. Notwithstanding the terms, provisions or conditions of any agreement, no certificate of approval holder may amend, cancel, terminate or refuse to continue or renew any agreement, or cause a wholesale licensee to resign from an agreement, unless good cause can be established or proven for amendment, termination, cancellation, nonrenewal, noncontinuation or causing a resignation. "Good cause" does not include the sale or purchase of a certificate of approval holder. "Good cause" includes, but is not limited to, the following: A. Revocation of the wholesale licensee's license to do business in the State; [1987, c. 45, Pt. A, §4(NEW).]B. Bankruptcy or insolvency of the wholesale licensee; [1987, c. 45, Pt. A, §4(NEW).]C. Assignment for the benefit of creditors or similar disposition of the assets of the wholesale licensee; and [1987, c. 45, Pt. A, §4(NEW).]D. Failure by the wholesale licensee to substantially comply, without reasonable excuse or justification, with any reasonable and material requirement imposed upon the wholesale licensee by the certificate of approval holder. [2021, c. 658, §257(AMD).] [2021, c. 658, §257(AMD).]
Amended by 2022, c. 658,§ 257, eff. 8/8/2022.