Upon the death of the dealer, or the majority stockholder in a corporation operating a retail dealership under a contract as provided in R.S. 51:481, the heir or heirs of the dealer or stockholder shall have one year to exercise the options provided by this Part to the dealer, upon the same terms and conditions applicable to the dealer.
La. R.S. 51:488
Repurchase from heirs upon death of dealer
Acts 1991, No. 627, §1.
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.