N.Y. General Business Law § 199-d: Repurchase of merchandise

§ 199-d. Repurchase of merchandise. In the event of any termination,

cancellation or failure to renew a franchise, whether by mutual

agreement or otherwise, a distributor shall make or cause to be made an

offer in good faith to repurchase from the dealer at then current

wholesale prices any and all merchantable products purchased by said

dealer from the distributor, provided however, that in such event the

distributor shall have the right to apply the proceeds against any

existing indebtedness owed to him by the dealer and further provided

that such repurchased obligation is conditioned upon there being no

other claims or liens against such products by or on behalf of other

creditors of the dealer.