§ 19.120.020. Sale of franchise to third party
Notwithstanding the terms of any motor fuel franchise, a motor fuel refiner-supplier shall not absolutely prohibit or unreasonably withhold its consent to any sale, assignment, or other transfer of the motor fuel franchise by a motor fuel retailer to a third party without fairly compensating the motor fuel retailer for the fair market value, at the time of expiration of the franchise, of the motor fuel retailer's inventory, supplies, equipment, and furnishings purchased from the motor fuel refiner-supplier, and good will, exclusive of personalized materials which have no value to the motor fuel refiner-supplier, and inventory, supplies, equipment, and furnishings not reasonably required in the conduct of the franchise business. A motor fuel refiner-supplier may offset against amounts owed to a motor fuel retailer under this section any amounts owed by the motor fuel retailer to the motor fuel refiner-supplier.
[1986 c 320 § 3.]
Sections: Previous 19.120.010 19.120.020 19.120.030 19.120.040 19.120.050 19.120.060 19.120.070 19.120.080 19.120.090 19.120.100 19.120.110 19.120.120 19.120.130 19.120.900 19.120.901 NextLast modified: April 7, 2009