§ 467. Dealership facilities assistance upon termination, cancellation or nonrenewal. Upon a permitted termination, cancellation or nonrenewal by the franchisor, unless such termination, cancellation or nonrenewal is for a reason or reasons set forth in subparagraph three of paragraph (d) of subdivision two of section four hundred sixty-three of this article, the franchisor shall assume the obligations for any lease of the dealership facilities or arrange for a new lease of the dealership facilities or pay the dealer the lease payments for one year, whatever is less, or negotiate a lease termination for the dealership facilities at the franchisor's expense. If the facilities are owned by the franchised motor vehicle dealer, the franchisor shall pay such dealer a sum equivalent to the reasonable rental value of the dealership facility for one year, provided the franchised motor vehicle dealer shall mitigate damages in the case of an owned facility.

Terms Used In N.Y. Vehicle and Traffic Law 467

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Franchised motor vehicle dealer: means : (a) any person required to be registered pursuant to section four hundred fifteen of this title which has been granted a franchise as defined in subdivision six of this section, or (b) any person engaged in the business of selling snowmobiles, all terrain vehicles and/or personal watercraft at wholesale or retail who has been granted a franchise; provided, however, that any person primarily engaged in the sale of vessels and other marine items who meets the definition of "dealer" as provided in subdivision one of § 810 of the general business law shall not be a "franchised motor vehicle dealer" pursuant to this article. See N.Y. Vehicle and Traffic Law 462
  • Franchisor: means any manufacturer, distributor, distributor branch or factory branch, importer or other person, partnership, corporation, association, or entity, whether resident or non-resident, which enters into or is presently a party to a franchise with a franchised motor vehicle dealer. See N.Y. Vehicle and Traffic Law 462
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Motor vehicle: means : (a) any motor vehicle as defined in section one hundred twenty-five of this chapter, (b) any snowmobile as defined in article forty-seven of this chapter, (c) any all terrain vehicle as defined in article forty-eight-B of this chapter and (d) any personal watercraft as defined in § 2 of the navigation law, provided the commissioner shall have authority to except by regulation vehicles other than passenger automobiles, trucks and motorcycles from such definition. See N.Y. Vehicle and Traffic Law 462
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