North Carolina General Statutes 18B-1213. Obligations of purchaser
The purchaser of a winery, and any successor to the import rights of a winery, is obligated to all the terms and conditions of an agreement in effect on the date of the purchase or other acquisition of the right to distribute a brand, except for good cause, which includes,
(1) Revocation of the wholesaler’s permit or license to do business in this State,
Terms Used In North Carolina General Statutes 18B-1213
- Agreement: means a commercial relationship between a wine wholesaler and a winery. See North Carolina General Statutes 18B-1201
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- permit: means a presently valid permit. See North Carolina General Statutes 18B-101
- purchase: includes the sale of stock, sale of assets, merger, lease, transfer, or consolidation. See North Carolina General Statutes 18B-1213
- Sale: means any transfer, trade, exchange, or barter, in any manner or by any means, for consideration. See North Carolina General Statutes 18B-101
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
- Winery: means any holder of an unfortified winery permit, fortified winery permit, limited winery permit, or nonresident wine vendor permit issued under the authority of this Chapter who sells at least 1,250 cases of wine in North Carolina per year. See North Carolina General Statutes 18B-1201
(2) Bankruptcy or insolvency of the wholesaler,
(3) Assignment for the benefit of creditors or similar disposition of the assets of the wholesaler, or
(4) Failure by the wholesaler to comply substantially, without reasonable excuse or justification, with any reasonable and material requirement imposed upon the wholesaler by the winery.
As used in this Article, “purchase” includes the sale of stock, sale of assets, merger, lease, transfer, or consolidation. (1983, c. 85, s. 2; 2010-122, s. 25.)