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114 chapters · 762 sections in this title.
Mich. Comp. Laws § 445.1451 Short title.
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Sec. 1. This act shall be known and may be cited as the "farm and utility equipment act".
Mich. Comp. Laws § 445.1452 Definitions.
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Sec. 2. As used in this act unless the context clearly requires otherwise: (a) "Attachments" means machinery or any part of a piece of machinery designed to be used on or in conjunction with farm tractors, farm equipment, utility tractors, and utility equipment. (b) "Current net …
Mich. Comp. Laws § 445.1453 Repurchase of inventory on termination of agreement; election to keep inventory.
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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 § 445.1454 Repurchase amount; handling, packing, and loading; effect of payment; subtraction of debts; shipment; undeliverable or unaccepted goods; notice of intent to return; duties of supplier; duties of escrow agent; warranty claims.
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Sec. 4. (1) The supplier shall pay 100% of the net cost of all undamaged and complete tractors, equipment, and attachments, which were purchased within 30 months of the termination of the agreement, less an allowance for usage for demonstration or usage for rental, provided the d…