US Laws, Codes, Statutes & Cases

     80F.15 Assignment of facility lease option. 

    A supplier or an affiliate of a supplier who has an option 
 to purchase, or an option to lease or extend the lease of a 
 facility occupied by a dealer, who determines not to exercise 
 the option, shall offer to assign or otherwise transfer the 
 option to the dealer.  The supplier may charge the dealer a 
 reasonable legal and administrative cost for transfer of the 
 option.  Options to purchase, or lease or extend the lease of a 
 facility created after May 6, 2000, are assignable to the dealer 
 who occupies the facility.  If the dealer exercises the option, 
 the supplier or affiliate is not liable for the performance of 
 the dealer pursuant to the option or the underlying lease after 
 the option is exercised. 

    HIST: 2000 c 456 s 20 

Copyright 2005 by the Office of Revisor of Statutes, State of Minnesota.