(1) A manufacturer or distributor shall not object to a change in ownership of a dealer unless:

(a) The change in ownership would breach the manufacturer-dealer agreement;

(b) The dealer failed to provide any requested supporting documentation under section 60-1458;

(c) The prospective transferee:

(i) Has been terminated for cause in a termination action initiated by the manufacturer under a previous manufacturer-dealer agreement;

(ii) Has been convicted of a felony or any crime of fraud, deceit, or moral turpitude;

(iii) Lacks any license necessary to own and operate the dealership under the Motor Vehicle Industry Regulation Act;

(iv) Does not have an active line of credit that is sufficient to purchase the manufacturer's or distributor's products under the manufacturer-dealer agreement; or

(v) Within the ten years prior to the date of receipt of the written notice provided under section 60-1458, has undergone bankruptcy, insolvency, a general assignment for the benefit of creditors, or the appointment of a receiver, trustee, or conservator to take possession of the transferee's business or property; or

(d) If the prospective transferee is a family member of the dealer, such family member intends to do any of the following without the consent of the manufacturer or distributor:

(i) Relocate the dealership to any location; or

(ii) Alter the terms or conditions of the manufacturer-dealer agreement.

(2) If the manufacturer or distributor objects to a change of ownership, the manufacturer or distributor shall provide written notice of its reasons for the objection to the dealer within seven business days after receipt of the written notification provided by the dealer under section 60-1458. The manufacturer or distributor has the burden of proof with regard to its objection.

(3) If a manufacturer or distributor does not object to the change in ownership pursuant to this section, the change in ownership shall be deemed approved by such manufacturer or distributor.