Louisiana Revised Statutes 32:1270.3 – Sale of water-damaged marine products
Terms Used In Louisiana Revised Statutes 32:1270.3
- Marine product: means a new or used watercraft, boat, marine motor, and a boat or watercraft trailer. See Louisiana Revised Statutes 32:1252
- Person: shall mean any natural or juridical person, firm, association, corporation, trust, partnership, limited liability partnership, professional liability corporation, or limited liability company or any other legal entity. See Louisiana Revised Statutes 32:1252
- Used marine product: means a marine product, the legal title of which has been transferred by a manufacturer, distributor, or dealer to an ultimate purchaser. See Louisiana Revised Statutes 32:1252
A. No person shall sell, transfer, or convey any new or used marine product to any person without notifying the buyer or receiver of the marine product in writing of the extent of any water damage from flooding which occurred to the marine product prior to the transaction.
B. If a sale, transfer, or conveyance of a new or used marine product occurs in violation of Subsection A of this Section, the person receiving ownership and title to the marine product who is not otherwise aware of the damage at the time of the transaction may bring an action to set aside the transaction within one year from the date of the transaction and receive all monies or other property given as consideration for the marine product less a reasonable assessment for wear and tear.
C. For the purposes of this Section, a “water-damaged marine product” means any marine product whose power train, computer, or electrical system has been damaged by flooding.
Acts 2012, No. 326, §1.