Arizona Laws 28-4461. Right of designated family member to succeed in ownership
A. Any owner of a new motor vehicle dealer may appoint by will or any other written instrument that is approved by the manufacturer a designated family member to succeed in the ownership interest of the owner of the new motor vehicle dealer.
Terms Used In Arizona Laws 28-4461
- Dealer: means a person who is engaged in the business of buying, selling or exchanging motor vehicles, trailers or semitrailers and who has an established place of business and has paid fees pursuant to section 28-4302. See Arizona Laws 28-101
- Franchise: means a contract between two or more persons if all of the following conditions are included:
(a) A commercial relationship of definite duration or continuing indefinite duration is involved. See Arizona Laws 28-4301
- Manufacturer: means any person who either:
(a) Manufactures or assembles new motor vehicles. See Arizona Laws 28-4301
- Motor vehicle: means an automobile, motor bus, motorcycle, truck or truck tractor or any other self-propelled vehicle, trailer or semitrailer. See Arizona Laws 28-4301
- Motor vehicle dealer: means a new motor vehicle dealer, a used motor vehicle dealer, a public consignment auction dealer, a broker or a wholesale motor vehicle auction dealer, excluding a person who comes into possession of a motor vehicle as an incident to the person's regular business and who sells, auctions or exchanges the motor vehicle. See Arizona Laws 28-4301
- New motor vehicle: means a motor vehicle, other than a used motor vehicle, that is held either for:
(a) Sale by the franchisee who first acquired the vehicle from the manufacturer or distributor of the vehicle. See Arizona Laws 28-4301
- New motor vehicle dealer: means a person who buys, sells, exchanges or offers or attempts to negotiate a sale or exchange of an interest in, or who is engaged in the business of selling, new motor vehicles or used motor vehicles taken in trade on new motor vehicles or used vehicles purchased for resale. See Arizona Laws 28-4301
- Owner: means :
(a) A person who holds the legal title of a vehicle. See Arizona Laws 28-101
B. Unless there is good cause for refusal to honor succession on the part of the manufacturer, any designated family member of a deceased or incapacitated owner of a new motor vehicle dealer may succeed to the ownership interest of the owner of the new motor vehicle dealer under the existing franchise if both of the following apply:
1. The designated family member gives the manufacturer written notice of the family member’s intention to succeed to the ownership interest of the owner of the new motor vehicle dealer within ninety days after the owner’s death or incapacity.
2. The designated family member agrees to be bound by all terms and conditions of the franchise.
C. The manufacturer may request, and a designated family member shall provide within forty-five days after the manufacturer’s request, personal financial and business experience data that are reasonably necessary to determine whether the succession should be honored.