Montana Code 30-11-704. Repurchase of inventory of deceased retailer or wholesaler
30-11-704. Repurchase of inventory of deceased retailer or wholesaler. If the retailer, wholesaler, or majority stockholder in a corporation operating as a retailer or wholesaler entitled to payment under this part dies, the wholesaler, manufacturer, or distributor shall, unless the heirs or devisees of the deceased agree to continue to operate the dealership, repurchase the inventory from the heirs or devisees in the manner prescribed in 30-11-702.
Terms Used In Montana Code 30-11-704
- 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.
- 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
- 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