60-1452.

Termination action by manufacturer or distributor; notice; when; procedure.

(1)(a) Except as provided in subsection (4) of this section, a manufacturer or distributor shall provide the dealer with a written notice that states the manufacturer's or distributor's intent to initiate a termination action.

(b) Such written notice shall be delivered to the headquarters of the dealer at least:

(i) One hundred twenty days prior to the intended termination action; or

(ii) Thirty days prior to the intended termination action if the reasons showing that good cause exists for initiating a termination action include any reason under subdivisions (2)(h) though (k) of section 60-1451.

(c) Such written notice shall state:

(i) Each reason showing that good cause exists for the proposed termination action;

(ii) The date of the proposed termination action; and

(iii) That, within thirty days after receiving the notice, the dealer may provide to the manufacturer or distributor a written notice of intent to cure each reason stated for the proposed termination action. Such notice of intent to cure shall be delivered to the headquarters of the manufacturer or distributor.

(2)(a) For a dealer that provides the notice described in subdivision (1)(c)(iii) of this section, such dealer has ninety days after such notice was received by the manufacturer or distributor to cure each reason stated for the proposed termination action.

(b) If each reason for the proposed termination action is cured as specified in subdivision (2)(a) of this section, the manufacturer or distributor shall not initiate the proposed termination action.

(3) For a dealer that does not provide the notice described in subdivision (1)(c)(iii) of this section, the manufacturer or distributor may initiate the proposed termination action on the date stated in the written notice provided by the manufacturer or distributor pursuant to subsection (1) of this section.

(4) A manufacturer or distributor does not need to provide written notice to a dealer of a proposed termination action if the dealer is experiencing insolvency, the occurrence of an assignment for the benefit of creditors, or bankruptcy.