Sec. 3. If a dealer enters into an agreement with a supplier and the agreement is subsequently terminated, the supplier shall repurchase any inventory of the dealer as provided in this act. The dealer may choose to keep the inventory if there exists a contractual right to do so.
Mich. Comp. Laws § 445.1453
Repurchase of inventory on termination of agreement; election to keep inventory
Applied in 2 court decisions — leading case Laethem Equipment Company v. Deere & Company (2012)
Most recently applied in 310 Mich. App. 226 - Weingartz Supply Company v. Salsco Inc (April 2015)
1984, Act 341, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.