Missouri Revised Statutes













Chapter 407

Merchandising Practices

←407.850

Section 407.855.1

407.857→

August 28, 2015

Repurchase of farm machinery inventory on termination of dealership--repurchase amount credited to debt of retailers--interest to be paid on credit, when, rate.

407.855. Whenever any retailer enters into a written or oral contract

with a wholesaler, manufacturer or distributor wherein the retailer agrees to

maintain an inventory and the contract is terminated by the wholesaler,

manufacturer, distributor, or retailer, or upon the retailer's retirement at

sixty-two years of age or older, then the retailer may require the repurchase

of the inventory as provided for in sections 407.850 to 407.885. In the event

of the death of the retailer or the majority stockholder of a corporation

operating as a retailer, the wholesaler, manufacturer or distributor shall

repurchase the inventory as provided for in section 407.880. If the retailer

has any outstanding debts to the wholesaler, manufacturer or distributor,

then the repurchase amount may be credited to the retailer's account. All

payments or allowances of credit due retailer shall be paid or credited

within sixty days after the return of implements, machinery, attachments or

repair parts. After sixty days all payments or allowances shall include

interest at the rate stated in section 408.040.



(L. 1982 H.B. 958 § 2, A.L. 1985 H.B. 604, A.L. 1987 S.B. 35)







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