339-C:5 Repurchase by Supplier Upon Termination. –
In the event of any termination, cancellation or refusal to renew, whether by mutual agreement or otherwise, a supplier shall make or cause to be made an offer in good faith to repurchase from the dealer at then current wholesale prices any and all merchantable products purchased by said dealer from the supplier; provided, however, that in such event, the supplier shall have the right to apply the proceeds against any existing indebtedness owed to him by the dealer and further provided that such repurchase obligation is conditioned upon there being no other claims or liens against such products by or on behalf of other creditors of the dealer. Any deposit held by the supplier is to be returned to said dealer within 120 days from the date of termination, cancellation, or refusal to renew the agreement or lease, in the event of no prior claims or liens.