Ark. Code § 4-72-401

Current with legislation from 2024 Fiscal and Special Sessions.

Section 4-72-401 - Definitions

As used in this subchapter, unless the context otherwise requires:

(1) "Franchise" means any agreement or contract between a petroleum products supplier and a petroleum products distributor whereby the supplier agrees to furnish or supply petroleum products to the distributor and the distributor agrees to purchase or accept on consignment or otherwise receive petroleum products from the supplier for sale at wholesale;

(2) "Petroleum products distributor" means and includes any person, firm, corporation, or other business entity engaged in the business of selling petroleum products at wholesale as a jobber, distributor, consignee, agent, or in any other capacity; and

(3) "Petroleum products supplier" means and includes any person, firm, corporation, subsidiary company, or other business entity engaged in the business of manufacturing, producing, or refining of petroleum products for sale or consignment to a petroleum products distributor.

Ark. Code § 4-72-401

Acts 1975, No. 470, § 1; A.S.A. 1947, § 53-1001.