Section 4-72-212 - Duties of good faith and fair dealing - Termination - Rights of survivors - Definition(a) A transaction under this subchapter shall be consistent with the governing principles and the obligation of good faith and fair dealing.(b) A franchisor may terminate a franchise agreement only for material cause as determined under objective standards.(c)(1) A survivor of a franchisee shall be treated in good faith and provided a sufficient opportunity to become an owner of the franchise.(2) As used in subdivision (c)(1) of this section, "survivor" means an immediate family member or designated heir of the franchisee or franchise owner.Added by Act 2023, No. 847,§ 5, eff. 8/1/2023, app. only to franchise agreements or contracts entered into or renewed on and after the effective date of this act..