1. The provisions of this section shall apply to:

(1) Farm implement dealerships, as provided in sections 407.838 to 407.880;

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(2) Industrial maintenance and construction power equipment dealerships, as provided in sections 407.750 to 407.756; and

(3) Outdoor power equipment dealerships, as provided in sections 407.890 to 407.898.

2. A manufacturer, wholesaler or distributor shall have ninety days in which to consider and make a determination on a request by a dealer/retailer to sell or transfer any portion of his or her business ownership to another party or to enter into an agreement to operate the dealership with another party. The dealer/retailer’s request shall include the reasonable financial information, personal background, character references and work histories as required by the manufacturer to render such a determination. In the event the manufacturer or distributor determines that the request is not acceptable, the manufacturer or distributor shall provide the dealer/retailer with a written notice of its determination with the stated reasons for nonacceptance.