(a) A manufacturer shall furnish a notice of termination of a franchise agreement to a new motor vehicle dealer at least
Terms Used In Alaska Statutes 45.25.120
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.
Fraud: Intentional deception resulting in injury to another.
state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(1) 90 days before the effective date of a termination, except as required under (2) or (3) of this subsection;(2) 15 days before the effective date of a termination when the new motor vehicle dealer
(A) is insolvent or is the subject of a bankruptcy or receivership proceeding;(B) has failed to conduct its customary sales and service operations during its customary business hours for seven consecutive business days; this subparagraph does not apply to closures due to acts of God or circumstances beyond the direct control of the new motor vehicle dealer; or(C) is convicted of a felony involving moral turpitude or fraud under the law of this state, another state, the federal government, a territory of the United States, or the District of Columbia;(3) 180 days before the effective date of the termination if the manufacturer or distributor is discontinuing the sale of the product line.(b) Notice required under (a) of this section must be in writing, shall be sent by certified mail or personally delivered to the new motor vehicle dealer, and must contain
(1) a statement of intention to terminate the franchise;(2) a statement of the reasons for the termination; and(3) the date on which the termination takes effect.
