N.Y. General Business Law § 696-g: Death or incapacity of dealer

§ 696-g. Death or incapacity of dealer. 1. In the event of the death

or incapacity of the dealer or the majority stockholder of a corporation

operating as a dealer, the supplier shall, at the option of the heirs at

law, if the dealer died intestate, or the executor under the terms of

the deceased dealer's last will and testament, if said dealer died

testate, repurchase the inventory from the estate as if the supplier had

terminated the contract and the inventory repurchase provisions of

section six hundred ninety-six-f of this article are made expressly

applicable hereto. The heirs or executor shall have nine months from the

date of the death of the dealer or majority stockholder to exercise the

option under this article. However, nothing in this article shall

require the repurchase of inventory if the heirs or executor and the

supplier enter into a new dealer agreement, or if a successor to the

dealer is established pursuant to paragraph (j) of subdivision three of

section six hundred ninety-six-b of this article. This section shall be

subject to that portion of the supplier's agreement with the dealer

pertaining to death of the dealer or succession, to the extent such

agreement is not inconsistent herewith.

2. The provisions of this section shall be supplemental to any

agreement between the dealer and the supplier covering the return of

equipment, attachments and repair parts which provides the dealer with

greater protection. The heirs or executor can elect to pursue either the

contract remedy or the remedy provided herein, and an election by the

heirs or executor to pursue contract remedy shall not bar such heirs' or

executor's right to the remedy provided herein as to those equipment,

attachments and repair parts not affected by the contract remedy.

Notwithstanding anything contained herein, the rights of a supplier to

charge back to the dealer's account amounts previously paid or credited

as a discount incident to the dealer's purchase of goods shall not be

affected. Further, any repurchase hereunder shall not be subject to the

provisions of the bulk sales law. Additionally, nothing shall preclude a

price for return parts which is greater than the total allowance for

parts allowed herein and the shipping allowance, in such case the

packing, freight and handling expense charge shall not be borne by the

supplier.