Kentucky Statutes 365.800 – Definitions for KRS 365.800 to 365.840
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As used in KRS § 365.800 to KRS § 365.840, unless the context requires otherwise:
(1) “Current net price on parts” means the price listed by a supplier in a price list or catalogue in effect at the time a retail agreement contract is terminated, less any applicable trade and cash discounts;
(2) “Retailer” means any person, firm, or corporation, including heirs, personal representatives, guardians, trustees, assignees, or receivers of the person, firm, or corporation, engaged in the business of selling and retailing inventory, but shall not include retailers of petroleum or motor vehicle and related automotive care and replacement products;
(3) “Inventory” means farm implements, tractors, farm machinery, consumer products, utility and industrial equipment, construction and excavating equipment, and any attachments, repair parts, or superseded parts for the equipment;
(4) “Net cost” means the price a retailer paid for the inventory to a supplier, less all discounts allowed;
(5) “Consumer products” means machines designed for or adapted and used for horticulture, floriculture, landscaping, grounds maintenance, or turf maintenance, including but not limited to lawnmowers, rototillers, trimmers, blowers, and other equipment used in both residential and commercial lawn, gardening, or turf maintenance, installation, or other applications;
(6) “Superseded parts” means any part that will provide the same function as a currently available part as of the date of termination of a retail agreement contract;
(7) “Supplier” means any wholesaler, manufacturer, or distributor of inventory, or any purchaser of assets or stock of any surviving corporation resulting from a merger or liquidation, or any receiver, assignee, or trustee of the original wholesaler, manufacturer, distributor, or corporation; and
(8) “Terminate” or “termination” means cancel, fail to renew, or otherwise terminate a retail agreement contract.
Effective: June 25, 2013
History: Amended 2013 Ky. Acts ch. 125, sec. 1, effective June 25, 2013. — Amended
2004 Ky. Acts ch. 144, sec. 1, effective April 21, 2004. — Created 1986 Ky. Acts ch.
32, sec. 1, effective February 28, 1986.
(1) “Current net price on parts” means the price listed by a supplier in a price list or catalogue in effect at the time a retail agreement contract is terminated, less any applicable trade and cash discounts;
Terms Used In Kentucky Statutes 365.800
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Trustee: A person or institution holding and administering property in trust.
(2) “Retailer” means any person, firm, or corporation, including heirs, personal representatives, guardians, trustees, assignees, or receivers of the person, firm, or corporation, engaged in the business of selling and retailing inventory, but shall not include retailers of petroleum or motor vehicle and related automotive care and replacement products;
(3) “Inventory” means farm implements, tractors, farm machinery, consumer products, utility and industrial equipment, construction and excavating equipment, and any attachments, repair parts, or superseded parts for the equipment;
(4) “Net cost” means the price a retailer paid for the inventory to a supplier, less all discounts allowed;
(5) “Consumer products” means machines designed for or adapted and used for horticulture, floriculture, landscaping, grounds maintenance, or turf maintenance, including but not limited to lawnmowers, rototillers, trimmers, blowers, and other equipment used in both residential and commercial lawn, gardening, or turf maintenance, installation, or other applications;
(6) “Superseded parts” means any part that will provide the same function as a currently available part as of the date of termination of a retail agreement contract;
(7) “Supplier” means any wholesaler, manufacturer, or distributor of inventory, or any purchaser of assets or stock of any surviving corporation resulting from a merger or liquidation, or any receiver, assignee, or trustee of the original wholesaler, manufacturer, distributor, or corporation; and
(8) “Terminate” or “termination” means cancel, fail to renew, or otherwise terminate a retail agreement contract.
Effective: June 25, 2013
History: Amended 2013 Ky. Acts ch. 125, sec. 1, effective June 25, 2013. — Amended
2004 Ky. Acts ch. 144, sec. 1, effective April 21, 2004. — Created 1986 Ky. Acts ch.
32, sec. 1, effective February 28, 1986.