Maine Revised Statutes Title 10 Sec. 1179 – Franchise interest, vested rights
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Terms Used In Maine Revised Statutes Title 10 Sec. 1179
- Franchise: means an oral or written arrangement for a definite or indefinite period in which a manufacturer, distributor or wholesaler grants to a motor vehicle dealer a license to use a trade name, service mark or related characteristic, and in which there is a community of interest in the marketing of motor vehicles or services related thereto at wholesale, retail, leasing or otherwise. See Maine Revised Statutes Title 10 Sec. 1171
- Franchisee: means a motor vehicle dealer to whom a franchise is offered or granted. See Maine Revised Statutes Title 10 Sec. 1171
- Franchisor: means a manufacturer, distributor or wholesaler who grants a franchise to a motor vehicle dealer. See Maine Revised Statutes Title 10 Sec. 1171
- manufacturer: includes the terms "franchisor" "distributor" "distributor branch" "factory branch" and "factory representative. See Maine Revised Statutes Title 10 Sec. 1171
- Motor vehicle: means any motor-driven vehicle, except motorcycles and recreational vehicles defined under section 1432, subsection 18?A, required to be registered under Title 29?A, chapter 5. See Maine Revised Statutes Title 10 Sec. 1171
- wholesaler: means any person who sells or distributes new or used motor vehicles to motor vehicle dealers or who maintains distributor representatives within this State. See Maine Revised Statutes Title 10 Sec. 1171
Notwithstanding any other provision of law, it shall be unlawful for the manufacturer, wholesaler, distributor or franchisor without due cause, to fail to renew a franchise on terms then equally available to all its motor vehicle dealers, to terminate a franchise or to restrict the transfer of a franchise unless the franchisee shall receive fair and reasonable compensation for the value of the business. [PL 1975, c. 573 (NEW).]
SECTION HISTORY
PL 1975, c. 573 (NEW).