Montana Code 30-11-904. Transfer
30-11-904. Transfer. A grantor may not unreasonably withhold consent to any transfer of the dealer‘s business or transfer of the stock or other interest in the dealership to a designated family member, to the principal owner of the dealership, or to a person whom the dealer wishes to designate as a designated successor. The grantor may require that the designated successor or designated family member meet the reasonable requirements of the grantor. The requirements must be specified and made available to any dealer upon request but may not extend beyond business, financial, character, and experience qualifications. If a grantor determines that a proposed transferee does not meet the requirements, the grantor shall give the dealer written notice stating the specific reasons for withholding consent.
Terms Used In Montana Code 30-11-904
- Dealer: means a person who is a grantee of a construction equipment dealership situated in this state. See Montana Code 30-11-901
- Dealership: means a contract or agreement, expressed or implied, whether oral or written, including a franchise as defined in 61-4-201, by which a person is granted the right to sell or distribute construction equipment, in which there is a community of interest in the business of offering, selling, or distributing construction equipment. See Montana Code 30-11-901
- Designated family member: means the spouse, child, grandchild, parent, brother, or sister of a dealer. See Montana Code 30-11-901
- Designated successor: means a person designated in writing by the retiring dealer to succeed in the dealership or, in the case of an incapacitated dealer, a person appointed by a court as the legal representative of the dealer's property or the appointed and qualified personal representative and the testamentary trustee of a deceased dealer. See Montana Code 30-11-901
- Grantor: The person who establishes a trust and places property into it.
- Grantor: means a person who grants a dealership. See Montana Code 30-11-901
- Person: means any individual, partnership, association, corporation, or other entity. See Montana Code 30-11-901