Section 13-58-401 - Termination or nonrenewal of agreement - Notice - Repurchase obligations(1) Except as provided in Section 13-58-402, a manufacturer or distributor may not terminate or fail to renew an agreement with a motorboat dealer unless: (a) the motorboat dealer defaults as described in Section 13-58-301;(b) the manufacturer or distributor gives the motorboat dealer written notice as described in Section 13-58-302 that clearly and concisely states:(ii) that if the dealer fails to cure the default, the manufacturer or distributor may terminate the agreement;(c) the manufacturer or distributor provides the motorboat dealer the applicable period to cure the default as described in Subsection 13-58-302(2); and(d) the motorboat dealer fails to cure the default during the applicable period described in Subsection 13-58-302(2).(2) If an agreement is terminated or not renewed in violation of this section, the manufacturer shall pay to the motorboat dealer: (a) an amount that equals: (i) the dealer's cost of each new, undamaged, unsold, and unregistered motorboat, motorboat motor, and trailer in the dealer's inventory that the dealer: (A) acquired from the manufacturer or from another dealer; and(B) invoiced during the 24-month period immediately before the day on which the agreement terminates or is not renewed; minus(ii) each applicable dealer rebate and discount;(b) for each charge the manufacturer made for distribution, delivery, or taxes;(c) an amount that equals the dealer's cost for accessories added on a motorboat or trailer;(d) an amount that equals: (i) the cost of all new, undamaged, and unsold supplies, parts, and accessories, as advertised in the manufacturer's catalog or website on the day on which the agreement terminates or is not renewed; minus(ii) all allowance the manufacturer paid or credited to the dealer;(e) an amount that equals the greater of the fair market value for or the dealer's depreciated acquisition cost of a sign, if:(i) the manufacturer required or recommended the dealer to acquire the sign;(ii) the sign bears the manufacturer's name, trade name, or trademark;(iii) the sign is undamaged; and(iv) the dealer owns the sign;(f) an amount that equals the greater of the fair market value for or the dealer's depreciated acquisition cost of all special tools, equipment, and furnishings: (i) acquired from the manufacturer or a source the manufacturer approved;(ii) that the manufacturer required the dealer to acquire; and(iii) that are in good and usable condition; and(g) the cost of transporting, handling, packing, and loading all motorboats, motorboat motors, trailers, supplies, parts, accessories, signs, special tools, equipment, and furnishings.(3) A manufacturer shall pay a motorboat dealer the amounts described in Subsection (2) within 90 days after the day on which the tender of the property to the manufacturer occurs, if the dealer has: (a) clear title to the property; or(b) the manufacturer's statement of origin.(4) If an item described in Subsection (2) is subject to a security interest, the manufacturer may make payment jointly to: (a) the motorboat dealer; and(b) the holder of the security interest.Added by Chapter 185, 2021 General Session ,§ 6, eff. 5/5/2021.