Missouri Laws 407.1362 – Dealership agreements, good cause needed to terminate or cancel
No boat, marine, vessel, or personal watercraft manufacturer, directly or through any officer, agent or employee, may terminate, cancel or fail to renew a dealership agreement of a boat, marine, or vessel dealership without good cause. In addition, good cause shall exist whenever:
(1) The boat, marine, vessel, or personal watercraft dealer has transferred an interest in the dealership without the manufacturer’s written consent;
Terms Used In Missouri Laws 407.1362
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(2) The boat, marine, vessel, or personal watercraft dealer has filed a voluntary petition in bankruptcy or has had an involuntary petition in bankruptcy filed against it which has not been discharged within thirty days after the filing;
(3) There has been a closeout or sale of a substantial part of the dealer’s assets related to the boat, marine, vessel, or personal watercraft dealership or there has been a commencement or dissolution or liquidation of the dealership;
(4) There has been a change without the prior written approval of the manufacturer in the location of the dealer’s principal place of business under the dealership agreement;
(5) The boat, marine, vessel, or personal watercraft dealer has defaulted under any chattel mortgage or other security agreement between the dealer and the boat, marine, vessel, or personal watercraft manufacturer or there has been a revocation or discontinuance of any guarantee of the dealer’s present or future obligations to the boat, marine, or vessel;
(6) The boat, marine, vessel, or personal watercraft dealer has failed to operate in the normal course of business for thirty consecutive days or has otherwise abandoned his or her business, unless otherwise provided for in the dealer agreement;
(7) The boat, marine, vessel, or personal watercraft dealer has pleaded guilty to or has been convicted of a felony, or of any misdemeanor relating to the relationship between the dealer and manufacturer;
(8) The dealer has engaged in conduct which is injurious or detrimental to the dealer’s customers or to the public welfare.