VTL 467 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 466 Unreasonable restrictions up ARTICLE 17-A Franchised Motor Vehicle Dealer Act next SECTION 468 Preservation of consumer protection statutes Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 467 Dealership facilities assistance upon termination, cancellation or nonrenewal Vehicle & Traffic (VAT) CHAPTER 71, TITLE 4, ARTICLE 17-A § 467. Dealership facilities assistance upon termination, cancellation or nonrenewal. Upon a permitted termination, cancellation or nonrenewal by the franchisor, unless such termination, cancellation or nonrenewal is for a reason or reasons set forth in subparagraph three of paragraph (d) of subdivision two of section four hundred sixty-three of this article, the franchisor shall assume the obligations for any lease of the dealership facilities or arrange for a new lease of the dealership facilities or pay the dealer the lease payments for one year, whatever is less, or negotiate a lease termination for the dealership facilities at the franchisor's expense. If the facilities are owned by the franchised motor vehicle dealer, the franchisor shall pay such dealer a sum equivalent to the reasonable rental value of the dealership facility for one year, provided the franchised motor vehicle dealer shall mitigate damages in the case of an owned facility.