§486H-3 Notice of termination, cancellation, or nonrenewal. A petroleum distributor shall not terminate, cancel, or refuse to renew a franchise with a gasoline dealer without first giving the dealer written notice by certified mail at least ninety days in advance of the effective date of such action as set forth in the notice. Notwithstanding any provision to the contrary contained in this section, a petroleum distributor may terminate, cancel, or refuse to renew a franchise with a gasoline dealer effective five days after the posting of written notice by certified mail to the gasoline dealer at the dealer's last known address, if such action is based on any of the following reasons:

(1) Citation of the gasoline dealer by the measurement standards branch for adulteration, substitution, contamination, or other degradation of petroleum products sold under the trademark of the petroleum distributor; provided such adulteration, substitution, contamination, or other degradation is caused by the wilful or negligent act of the gasoline dealer;

(2) Voluntary abandonment of the franchise relationship by the gasoline dealer;

(3) Conviction of the gasoline dealer of a crime involving the business conducted pursuant to the franchise; or

(4) Adjudication of bankruptcy of the gasoline dealer, or the dealer's becoming insolvent in the sense that the dealer cannot meet the dealer's financial obligations when due. [L 1975, c 133, pt of §1; gen ch 1985; am L 1986, c 339, §78; am L 1998, c 192, §5]