Section 45-37-21.11 - Applicability of agreements to transferees and successors in business.

AL Code § 45-37-21.11 (2019) (N/A)
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(a) This part shall apply to agreements in existence on May 22, 2013, as well as agreements entered into or renewed after May 22, 2013.

(b) A transferee of a wholesaler that continues in business as a wholesaler shall have the benefit of and be bound by all terms and conditions of the agreement with the supplier in effect on the date of the transfer; provided, however, a transfer of the business of the wholesaler which requires the consent or approval of the supplier but is disapproved by the supplier shall be null and void.

(c) A successor to a supplier that continues in business as a supplier shall be bound by all terms and conditions of each agreement of the supplier in effect on the date of succession.