§ 812. Termination or renewal of agreement. 1. Termination for cause.\nA manufacturer or distributor may terminate an agreement with a dealer\nfor cause upon not less than fifteen days written notice sent by\ncertified mail or statutory overnight delivery, return receipt\nrequested, to the dealer stating the specific grounds for such\ntermination, only upon the occurrence of the following:\n (a) the conviction of the dealer, or one of its principal owners, of a\nfelony or a crime punishable by a term of imprisonment which\nsubstantially adversely affects the business of the manufacturer or\ndistributor;\n (b) the failure of the dealer to conduct its customary sales and\nservice operations during the regularly open business period, as defined\nby such dealer, for a continuous period of seven days, except when any\nsuch failure is the result of an act of God or circumstances beyond the\ndirect control of the dealer;\n (c) upon the suspension or revocation of the vessel dealer's\nregistration, pursuant to section twenty-two hundred fifty-seven-a of\nthe vehicle and traffic law, for more than thirty days;\n (d) the insolvency of the dealer, or filing of any petition by or\nagainst the dealer under any bankruptcy or receivership law;\n (e) unauthorized sales of products defined in the dealer agreement;\n (f) failure by the dealer to pay to the manufacturer or dealer for\nproducts purchased pursuant to the dealer agreement;\n (g) the dealer has made a material misrepresentation in applying for\nor acting under the contractual agreement; or\n (h) the dealer has engaged in fraud or unfair business practices.\n If a dealer is terminated for cause pursuant to this subdivision, such\ndealer shall pay reasonable freight costs and the cost of an independent\nmarine surveyor, for the purpose of valuation of inventory, if the\nmanufacturer elects to repurchase such dealer's inventory.\n 2. Termination or non-renewal without cause. Whenever a dealer enters\ninto a dealer agreement with a manufacturer or distributor wherein the\ndealer agrees to maintain an inventory of vessels or parts therefor, the\nmanufacturer or distributor shall not, except as provided in subdivision\none of this section, terminate, cancel or non-renew such dealer\nagreement until ninety days after written notice stating the specific\ngrounds of such intention to terminate has been sent by certified mail\nor statutory overnight delivery, return receipt requested, to the\ndealer.\n 3. If a manufacturer or distributor terminates a dealer agreement as a\nresult of any action, except as otherwise provided in subdivision one of\nthis section, the manufacturer or distributor shall repurchase the\ninventory as provided in section eight hundred eleven of this article.\nThe dealer may keep the inventory if it desires, and the manufacturer\nagrees in writing. If the dealer has any outstanding debts to the\nmanufacturer or distributor, then the repurchase amount may be adjusted\nby the manufacturer to take into account such unpaid debts.\n 4. After written notice by the dealer to the manufacturer by\nregistered or certified mail or statutory overnight delivery, return\nreceipt requested, within thirty days of the termination of the dealer\nagreement, the manufacturer or distributor shall repurchase that\ninventory previously purchased from the manufacturer or distributor as\nprovided in section eight hundred eleven of this article, except as\notherwise provided in subdivision one of this section.\n 5. Upon payment within a reasonable time of the repurchase amount to\nthe dealer, the title, if any, and the right of possession to the\nrepurchased inventory shall transfer to the manufacturer or distributor.\n 6. A dealer agreement shall not be assigned or transferred by the\ndealer without prior written consent of the manufacturer or distributor.\nAny assignment of such an agreement without such consent, any change in\nthe majority ownership of capital stock of the deale
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