West Virginia Code 47-11F-6 – Applicability of uniform commercial practices
Current as of: 2023 | Check for updates
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(a) The provisions of this article do not affect a security interest of the supplier in the inventory of the dealer.
Terms Used In West Virginia Code 47-11F-6
- Dealer: means any person, firm, partnership, association, corporation or other business entity engaged in the business of selling, at retail, farm, construction, industrial or outdoor power equipment or any combination of the foregoing and who maintains a total inventory of new equipment and repair parts having an aggregate value of not less than $25,000 at current net price and who provides repair service for such equipment. See West Virginia Code 47-11F-2
- Inventory: means the tractors, implements, attachments, equipment, and repair parts that the dealer purchased from the supplier, including, but not limited to, any data processing hardware and software, special service tools, and business signs the supplier has required the dealer to purchase and maintain. See West Virginia Code 47-11F-2
- Supplier: means a wholesaler, manufacturer or distributor who enters into an agreement with a dealer and who supplies inventory to such dealer. See West Virginia Code 47-11F-2
(b) A repurchase of inventory pursuant to this article shall not be subject to the bulk transfer provisions of article six, chapter forty-six of this code.