Sec. 2.

(1) "Dealer agreement" means the agreement or contract in writing between a manufacturer or distributor and a new watercraft dealer which purports to establish the legal rights and obligations of the parties to the agreement or contract with regard to the purchase and sale of new watercraft or new outboard motors.

(2) "Designated successor" means 1 or more persons nominated by the new watercraft dealer, in a written document filed by the dealer with the manufacturer or distributor at the time the dealer agreement is executed, to succeed the dealer in the event of his or her death or incapacity.

(3) "Distributor" means a person, resident or nonresident, who in whole or in part offers for sale, sells, or distributes a new watercraft or new outboard motor to a new watercraft dealer or who maintains a factory representative, resident or nonresident, or who controls a person, resident or nonresident, who in whole or in part offers for sale, sells, or distributes a new watercraft or new outboard motor to a new watercraft dealer.

(4) "Manufacturer" means a person who manufactures or assembles new watercraft or new outboard motors, or a distributor, factory branch, or factory representative.

(5) "New watercraft dealer" means a person who holds a dealer agreement granted by a manufacturer or distributor for the sale of the manufacturer's or distributor's watercraft or outboard motors, who is engaged in the business of purchasing, selling, exchanging, or servicing new watercraft or new outboard motors, and who has an established place of business.

(6) "Person" means a natural person, partnership, corporation, association, trust, estate, or other legal entity.

(7) "Proposed new watercraft dealer" means a person who has an application pending for a new dealer agreement with a manufacturer or distributor. Proposed new watercraft dealer does not include a person whose dealer agreement is being renewed or continued.

History: 1989, Act 88, Imd. Eff. June 20, 1989