Terms Used In South Carolina Code 39-59-40

  • Inventory: means farm implements, machinery, utility and industrial, and yard and garden equipment, attachments, or repair parts. See South Carolina Code 39-59-10
  • Retailer: means any person engaged in the business of selling and retailing farm implements, machinery, utility and industrial, and yard and garden equipment, attachments or repair parts. See South Carolina Code 39-59-10
The wholesaler, manufacturer, or distributor shall make payment of the full repurchase amount to the retailer not later than thirty days after the receipt of inventory as provided for in § 39-59-30. Upon payment of the repurchase amount to the retailer, the title and right of possession to the repurchased inventory shall transfer to the wholesaler, manufacturer, or distributor.