(1) This section applies to any termination action that is initiated when a manufacturer terminates without good cause or a dealer terminates with good cause and the termination action is:

(a) Initiated by a manufacturer or distributor and is not in accordance with section 60-1452;

(b) Initiated pursuant to subsection (3) of section 60-1452; or

(c) Initiated pursuant to section 60-1453.

(2) At the election of the dealer and within forty-five days after the date of the termination action, the manufacturer or distributor shall repurchase:

(a) All new, untitled recreational vehicles that were acquired by the dealer from the manufacturer or distributor within the eighteen-month period prior to the date of the termination action. Any such recreational vehicles shall not have not been used except for demonstration purposes and shall not have not been altered. Such recreational vehicles shall be purchased at one hundred percent of the original net invoice cost, including transportation and less applicable rebates and discounts provided to the dealer. If any such recreational vehicle that is repurchased is damaged prior to purchase, the repurchase amount due to the dealer shall be reduced by the cost to repair such damaged recreational vehicle;

(b) All undamaged accessories and proprietary parts sold to the dealer by the manufacturer or distributor for resale within the twelve-month period prior to the date of the termination action. Any such accessories and proprietary parts shall be accompanied by their original invoice. Such accessories and parts shall be repurchased at one hundred five percent of the original net invoice price; and

(c) Any properly functioning diagnostic equipment, special tools, current signage, and other equipment and machinery, that (i) was originally purchased by the dealer within five years before the date of the termination action, (ii) was originally purchased upon the manufacturer's or distributor's request, and (iii) can no longer be used in the normal course of the dealer's ongoing business. The manufacturer or distributor shall pay to the dealer one hundred percent of the net cost that the dealer paid to acquire such equipment, tools, signage, and machinery. The manufacturer or distributor shall reimburse the dealer for any freight, destination, delivery, and distribution charges and sales taxes, if any, related to the original purchase and the repurchase of such equipment, tools, signage, and machinery.

(3) Any repurchased recreational vehicle shall be paid for in full before such recreational vehicle is removed from the dealer's premises. After payment in full and upon the request of the manufacturer or distributor, such recreational vehicle shall be immediately surrendered to the manufacturer or distributor.