Montana Code 30-11-701. Definitions
30-11-701. Definitions. As used in this part, the following definitions apply:
Terms Used In Montana Code 30-11-701
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Dealership contract: means a written contract between a retailer and a wholesaler, manufacturer, or distributor in which the retailer becomes a dealer in goods sold by the wholesaler, manufacturer, or distributor, evidenced by a franchise agreement, sales agreement, security agreement, or other similar agreement or arrangement. See Montana Code 30-11-701
- Distribution contract: means a written contract between a wholesaler and a manufacturer or distributor in which the wholesaler becomes a dealer in goods sold by the manufacturer or distributor, evidenced by a franchise agreement, sales agreement, security agreement, or other similar agreement or arrangement. See Montana Code 30-11-701
- Inventory: means :
(a)farm implements, machinery, attachments, and repair parts;
(b)industrial and construction equipment and repair parts;
(c)new motor vehicles, trucks, trailers, semitrailers, pole trailers, travel trailers, and repair parts sold by a dealer as defined in 61-1-101;
(d)motorcycles, motor-driven cycles, recreational vehicles, and quadricycles, as those terms are defined in 61-1-101, and repair parts;
(e)snowmobiles, as defined in 23-2-601, and repair parts;
(f)off-highway vehicles, as defined in 23-2-801, and repair parts; and
(g)vessels, as defined in 23-2-502, detachable motors or engines used to propel vessels, and repair parts. See Montana Code 30-11-701
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Wholesaler: means any individual, partnership, association, or corporation engaged in the business of selling inventory, as defined in this section, to retailers. See Montana Code 30-11-701
(1)”Cancellation” or “canceled” means the cessation, termination, or discontinuance of a dealership contract. The term includes but is not limited to resignation, termination, surrender, discontinuance, nonrenewal, refusal to renew, or expiration of a dealership contract.
(2)”Current net price” means:
(a)with respect to a dealership contract, the price listed in the wholesaler‘s, manufacturer’s, or distributor’s price list or catalog in effect at the time a dealership contract is discontinued or, if none is then in effect, the last available price so listed; and
(b)with respect to a distribution contract, the price listed in the manufacturer’s or distributor’s price list or catalog in effect at the time a distribution contract is discontinued or, if none is then in effect, the last available price so listed.
(3)”Dealership contract” means a written contract between a retailer and a wholesaler, manufacturer, or distributor in which the retailer becomes a dealer in goods sold by the wholesaler, manufacturer, or distributor, evidenced by a franchise agreement, sales agreement, security agreement, or other similar agreement or arrangement.
(4)”Distribution contract” means a written contract between a wholesaler and a manufacturer or distributor in which the wholesaler becomes a dealer in goods sold by the manufacturer or distributor, evidenced by a franchise agreement, sales agreement, security agreement, or other similar agreement or arrangement.
(5)”Inventory” means:
(a)farm implements, machinery, attachments, and repair parts;
(b)industrial and construction equipment and repair parts;
(c)new motor vehicles, trucks, trailers, semitrailers, pole trailers, travel trailers, and repair parts sold by a dealer as defined in 61-1-101;
(d)motorcycles, motor-driven cycles, recreational vehicles, and quadricycles, as those terms are defined in 61-1-101, and repair parts;
(e)snowmobiles, as defined in 23-2-601, and repair parts;
(f)off-highway vehicles, as defined in 23-2-801, and repair parts; and
(g)vessels, as defined in 23-2-502, detachable motors or engines used to propel vessels, and repair parts.
(6)”Net cost” means:
(a)with respect to a dealership contract, the price actually paid for an inventory item by the retailer to the wholesaler, manufacturer, or distributor, plus applicable freight costs paid by or charged to the retailer; and
(b)with respect to a distribution contract, the price actually paid for an inventory item by the wholesaler to a manufacturer or distributor, plus applicable freight costs paid by or charged to the wholesaler.
(7)”Retailer” or “retail dealer” means any individual, partnership, association, or corporation engaged in the business of selling inventory, as defined in this section, to the general public.
(8)”Wholesaler” means any individual, partnership, association, or corporation engaged in the business of selling inventory, as defined in this section, to retailers.