322D.4 - FRANCHISER FAILURE TO COMPLY -- CIVIL PENALTY.
322D.4 FRANCHISER FAILURE TO COMPLY -- CIVIL PENALTY. In the event that any franchiser fails to make payment to the franchisee or the franchisee's heir or heirs as required by this chapter within sixty days after the inventory has been received by the franchiser, the franchiser is civilly liable for one hundred percent of the current net price of the inventory; transportation charges which have been paid by the franchisee; eighty-five percent of the current net price of repair parts; five percent of the current net price of repair parts to cover handling, packing and loading, if applicable; and attorney fees incurred by the franchisee or the franchisee's heir or heirs.
Section History: Recent Form 84 Acts, ch 1087, § 4; 85 Acts, ch 47, §9