Section 696-G. Death or incapacity of dealer

1. In the event of the death
  or incapacity of the dealer or the majority stockholder of a corporation
  operating as a dealer, the supplier shall, at the option of the heirs at
  law, if the dealer died intestate, or the executor under  the  terms  of
  the  deceased  dealer's  last  will  and  testament, if said dealer died
  testate, repurchase the inventory from the estate as if the supplier had
  terminated the contract  and  the  inventory  repurchase  provisions  of
  section  six  hundred  ninety-six-f  of  this article are made expressly
  applicable hereto. The heirs or executor shall have nine months from the
  date of the death of the dealer or majority stockholder to exercise  the
  option  under  this  article.  However,  nothing  in  this article shall
  require the repurchase of inventory if the heirs  or  executor  and  the
  supplier  enter  into  a  new dealer agreement, or if a successor to the
  dealer is established pursuant to paragraph (j) of subdivision three  of
  section  six hundred ninety-six-b of this article. This section shall be
  subject to that portion of the  supplier's  agreement  with  the  dealer
  pertaining  to  death  of  the  dealer or succession, to the extent such
  agreement is not inconsistent herewith.
    2. The provisions  of  this  section  shall  be  supplemental  to  any
  agreement  between  the  dealer  and the supplier covering the return of
  equipment, attachments and repair parts which provides the  dealer  with
  greater protection. The heirs or executor can elect to pursue either the
  contract  remedy  or  the remedy provided herein, and an election by the
  heirs or executor to pursue contract remedy shall not bar such heirs' or
  executor's right to the remedy provided herein as  to  those  equipment,
  attachments  and  repair  parts  not  affected  by  the contract remedy.
  Notwithstanding anything contained herein, the rights of a  supplier  to
  charge  back to the dealer's account amounts previously paid or credited
  as a discount incident to the dealer's purchase of goods  shall  not  be
  affected.  Further, any repurchase hereunder shall not be subject to the
  provisions of the bulk sales law. Additionally, nothing shall preclude a
  price for return parts which is greater than  the  total  allowance  for
  parts  allowed  herein  and  the  shipping  allowance,  in such case the
  packing, freight and handling expense charge shall not be borne  by  the
  supplier.