Hawaii Revised Statutes 481G-7 – Disposition of inventory
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Terms Used In Hawaii Revised Statutes 481G-7
- Dealer: means any person, corporation, partnership, association, association of dealers, or other form of business enterprise engaged in the business of selling products. See Hawaii Revised Statutes 481G-1
- Dealership: means any agreement, written or verbal, between a distributor and a dealer under which the dealer is granted the right, for a definite or indefinite period of time, to sell products on behalf of a distributor to consumers and other end-users. See Hawaii Revised Statutes 481G-1
- Distributor: means any person, corporation, partnership, or other form of business enterprise engaged in the sale, consignment, exchange, or any other form of transfer of a product which it manufactures, assembles, constructs, creates, or obtains in any manner from a manufacturer. See Hawaii Revised Statutes 481G-1
Upon termination of a dealership by either the distributor or the dealer, whether or not for cause, the distributor shall at the request of the dealer, take back any inventory from the dealer which was supplied by the distributor and which has not diminished substantially in value and is of similar quality as when originally supplied. The distributor shall reimburse the dealer for not less than ninety per cent of the cost paid by the dealer or shall cancel not less than ninety per cent of any debts owed on account of the inventory.