Law to apply to successors in interest
These rules about how businesses must treat their dealers also apply to anyone who takes over that business — like a buyer, a new company after a merger, or someone put in charge by a court. There are some exceptions: a manufacturer with fewer than 50 workers, or a distributor that only works inside Missouri and has fewer than 5 workers, does not have to follow these rules. The rules cover ongoing contracts with no end date and any contracts started, changed, or renewed after August 31, 1989.
407.897. Law to apply to s in interest — not applicable, when — to existing contracts and future contracts. — 1. The obligations of any , or created by the of sections 407.890 to 407.898 apply to any or of that wholesaler, manufacturer, or distributor. A successor in interest includes any purchaser of substantially all of the or over fifty percent of the stock, any surviving resulting from a merger or , any , or any of the original wholesaler, manufacturer or distributor.
2. The provisions of sections 407.890 to 407.898 shall not apply to such manufacturer in the state of Missouri who employs less than fifty employees or to any distributor who solely within the state of Missouri and who employs less than five employees for the two-year period prior to the and shall apply to all contracts now in effect which have no expiration date and are and all other contracts entered into, amended, or renewed after August 31, 1989. Any contract in force and effect on September 1, 1989, which by its terms will terminate on a date subsequent is governed by the law as it existed before September 1, 1989.
Tap any gold-underlined word to see what it means.
Red section numbers link to that law.
Source & history notes
(L. 1989 S.B. 41 §§ 5, 6)
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.