New Hampshire Revised Statutes 339-C:14 – Deposit for Rent; Discharge of Franchise Obligations
Current as of: 2023 | Check for updates
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I. A supplier may require a dealer designating a successor to deposit with the supplier a sum equal to a reasonable estimate of 21 days’ rent to the supplier. This deposit, if made, may be used only to compensate the supplier if the designated successor does not assume the franchise within the time required under N.H. Rev. Stat. § 339-C:13.
II. If any portion of the deposit is not used because the successor gives notice of election to assume the franchise within the 21 day period after the dealer’s death or because the supplier temporarily operates the franchise during the 21 day period, the supplier shall refund the unused portion to the estate or legal representative of the dealer.
III. In addition to requiring a deposit under paragraph I, the supplier may require the dealer designating a successor to arrange for the discharge or performance of other franchise obligations, including, but not limited to, insurance payments. The supplier may not require the dealer to arrange for the service station to be kept open to the public during the 21 days following his death. Failure of a franchise to operate after the death of a dealer and before a successor has assumed control and operation shall not constitute an abandonment of the franchise under N.H. Rev. Stat. § 339-C:4, IV.
II. If any portion of the deposit is not used because the successor gives notice of election to assume the franchise within the 21 day period after the dealer’s death or because the supplier temporarily operates the franchise during the 21 day period, the supplier shall refund the unused portion to the estate or legal representative of the dealer.
Terms Used In New Hampshire Revised Statutes 339-C:14
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
III. In addition to requiring a deposit under paragraph I, the supplier may require the dealer designating a successor to arrange for the discharge or performance of other franchise obligations, including, but not limited to, insurance payments. The supplier may not require the dealer to arrange for the service station to be kept open to the public during the 21 days following his death. Failure of a franchise to operate after the death of a dealer and before a successor has assumed control and operation shall not constitute an abandonment of the franchise under N.H. Rev. Stat. § 339-C:4, IV.