Section 467. Dealership facilities assistance upon termination, cancellation or nonrenewal  


Latest version.
  • 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.