Louisiana Revised Statutes 32:1270.7 – Indemnification of marine dealers
Terms Used In Louisiana Revised Statutes 32:1270.7
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Dealer: means any person licensed to sell a motor vehicle, specialty vehicle, or recreational product subject to regulation by this Chapter. See Louisiana Revised Statutes 32:1252
- Franchise: means any written contract or selling agreement between a motor vehicle or recreational products dealer, a motor vehicle lessor, or a specialty vehicle dealer and a manufacturer, motor vehicle lessor franchisor, or converter of a new motor vehicle or specialty vehicle or its distributor or factory branch by which the motor vehicle or recreational products dealer, motor vehicle lessor, or specialty vehicle dealer is authorized to engage in the business of selling or leasing the specific makes, models, or classifications of new motor vehicles, recreational products, or specialty vehicles marketed or leased by the manufacturer, motor vehicle lessor franchisor, or converter and designated in the franchise agreement or any addendum thereto. See Louisiana Revised Statutes 32:1252
- Manufacturer: means any person, resident or nonresident, who fabricates, manufactures, or assembles motor vehicles, recreational products, or new, remanufactured, reconditioned, or rebuilt motor vehicle or marine motors. See Louisiana Revised Statutes 32:1252
- Marine dealer: means any person who holds a bona fide contract or franchise with a manufacturer or distributor of marine products, except for either of the following:
(a) A person engaged in the business of renting or selling new or used watercraft or boats adapted to be powered only by an occupant's energy and who holds a license as a recreational products dealer pursuant to the provisions of this Chapter. See Louisiana Revised Statutes 32:1252
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
Notwithstanding the terms of any franchise agreement, each manufacturer or converter shall indemnify and hold harmless its franchised marine dealers against any judgment for damages, including but not limited to court costs and reasonable attorney fees of the marine dealer, arising out of complaints, claims, or lawsuits including but not limited to strict liability, negligence, misrepresentation, express or implied warranty, or rescission of sale to the extent that the judgment arises out of alleged defective or negligent manufacture, assembly, or design of marine products, parts, or accessories, or other functions by the manufacturer or converter, which are beyond the control of the marine dealer.
Acts 2012, No. 326, §1.