Nevada Revised Statutes 482.36413 – Termination of franchise upon divorce prohibited; award of franchise to either party in divorce action
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On or after January 1, 1986, no manufacturer or distributor may include in any franchise agreement whose duration exceeds 1 year any provision which calls for the termination of the franchise by the manufacturer or distributor upon the divorce of the dealer. The franchise may be awarded by the court to either party in a divorce action as part of the property settlement, and the party to whom it is awarded may continue to operate the business under the terms of the franchise agreement.
Terms Used In Nevada Revised Statutes 482.36413
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.