FARM EQUIPMENT AGREEMENTS H.B. 4352: FLOOR ANALYSIS
House Bill 4352 (as reported without amendment) Sponsor: Representative Lloyd F. Weeks
House Committee: Agriculture and Forestry Senate Committee: Agriculture and Forestry
The bill would amend the Farm and Utility Equipment Act, which regulates agreements between dealers who sell farm equipment and persons who supply the equipment, to do the following:
-- Revise repurchase requirements for undamaged farm equipment when an agreement is terminated.
-- Permit a dealer to ship to a supplier all inventory suitable for repurchase.
-- Permit a dealer to notify a supplier by certified mail that the dealer had inventory to be returned and specify that the notice would constitute the appointment of an escrow agent to act on the dealer's behalf.
-- Prohibit a dealer in the State from waiving his or her right to bring any action under the Act in the State courts.
-- Prohibit a supplier from terminating an agreement without good cause and require a supplier to provide a dealer with notice of termination.
-- Specify that the Act would apply to agreements and contracts that were in effect on or after January 2, 1990.
MCL 445.1452 et al. Legislative Analyst: L. Arasim
The bill would have no fiscal impact on State or local government.
Date Completed: 5-26-95 Fiscal Analyst: L. Nacionales-Tafoya
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This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.