Hawaii Revised Statutes 486H-8 – Disposition of inventory
Terms Used In Hawaii Revised Statutes 486H-8
- Franchise: means :
(1) Any agreement or related agreements between a petroleum distributor and a gasoline dealer under which the gasoline dealer is granted the right to use a trademark, trade name, service mark, or other identifying symbol or name owned by the distributor in connection with the retail sale of petroleum products supplied by the petroleum distributor; or
(2) Any agreement or related agreements described in paragraph (1) and any agreement between a petroleum distributor and a gasoline dealer under which the gasoline dealer is granted the right to occupy the premises owned, leased, or controlled by the distributor, for the purpose of engaging in the retail sale of petroleum products supplied by the distributor. See Hawaii Revised Statutes 486H-1
- Gasoline: includes gasoline, benzol, benzine, naphtha, and any other liquid prepared, advertised, offered for sale, sold for use as, or used for, the generation of power for the propulsion of motor vehicles, including any product obtained by blending together any one or more petroleum products with or without other products, if the resultant product is capable of the same use. See Hawaii Revised Statutes 486H-1
- Gasoline dealer: means any person engaged in the retail sale of petroleum products in the United States under a franchise agreement entered into with a petroleum distributor. See Hawaii Revised Statutes 486H-1
- Inventory: means any product sold to a gasoline dealer for resale purposes by a petroleum distributor. See Hawaii Revised Statutes 486H-1
- Petroleum distributor: means any person engaged in the sale, consignment, or distribution of petroleum products to retail outlets that it owns, leases, or otherwise controls. See Hawaii Revised Statutes 486H-1
Upon termination of a franchise by either the petroleum distributor or the gasoline 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 it and which has not diminished substantially in value and is of similar quality as when originally supplied. The petroleum distributor shall reimburse the gasoline dealer for not less than ninety per cent of the cost paid by the gasoline dealer or shall cancel not less than ninety per cent of any debts owed on account of the inventory.