If any wholesaler, manufacturer, or distributor fails or refuses to repurchase any inventory covered under the provisions of this subchapter within sixty (60) days after shipment of the inventory, he or she shall be civilly liable for one hundred percent (100%) of the current net price of the inventory, plus any freight charges paid by the retailer, the retailer's attorney's fees, court costs, and interest on the current net price computed at the legal interest rate from the sixty-first day after shipment.
Ark. Code Ann. § 4-72-309
Liability for failure to repurchase
Applied in 1 court decision — leading case Larry Hobbs Farm Equipment, Inc. v. CNH America, LLC (2009)
Most recently applied in Larry Hobbs Farm Equipment, Inc. v. CNH America, LLC (January 2009)
Acts 1979, No. 810, § 6; A.S.A. 1947, § 70-824.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.