Change in ownership, notice
If a recreation vehicle dealer wants to sell their business or change who owns it, they have to tell the manufacturer in writing at least 30 days before the deal closes. The manufacturer can only say no if they have a good reason — like the new buyer has bad finances, poor character, or a criminal record. If the manufacturer says no, they have to put their reasons in writing within 30 days. If they don't respond in time, the sale is automatically approved. The manufacturer has to prove their rejection was reasonable.
407.1332. Change in ownership, notice — rejection of change, notice. — 1. If a recreation vehicle desires to make a change in its ownership by the sale of the business , stock , or otherwise, the recreation vehicle dealer must give the thirty days' written notice prior to the closing including all as may be required by the manufacturer. The manufacturer shall not refuse to agree to such proposed change or sale and may not disapprove or withhold approval of such change or sale unless the manufacturer can show that its decision is based on manufacturer's reasonable criteria, which may include the 's business , moral character, and any criminal .
2. If the manufacturer rejects a proposed change or sale, the manufacturer shall give written notice of its reasons to the recreation vehicle dealer within thirty days after receipt of the dealer notification and complete documentation. If no such notice is given to the recreation vehicle dealer, the change or sale shall be approved.
3. The manufacturer shall have the in showing that its rejection of the transfer or sale is reasonable.
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Source & history notes
(L. 2001 H.B. 575) Effective 8-01-02
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.