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Texas Statutes (Last Updated: January 4, 2014) |
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OCCUPATIONS CODE |
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Title 14. REGULATION OF MOTOR VEHICLES AND TRANSPORTATION |
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Subtitle B. REGULATIONS RELATED TO VESSELS |
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Chapter 2352. BOAT MANUFACTURERS, DISTRIBUTORS, AND DEALERS |
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Subchapter B. DEALER AGREEMENTS |
Sec. 2352.0523. DEFAULT
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(a) A default under an agreement under this chapter by a manufacturer, distributor, or dealer is:
(1) a material failure to meet minimum product stocking requirements as specified by the agreement;
(2) a material failure to make timely payment of any material obligation as specified by the agreement;
(3) a material failure to substantially comply with a federal, state, or local law, rule, regulation, ordinance, or order applicable to the agreement; or
(4) an act of material fraud relating to the performance of a right or obligation under the agreement.
(b) A default by a dealer under an agreement under this chapter is:
(1) a material failure to meet applicable performance standards as specified by the agreement for a defined one model year marketing cycle;
(2) a material failure to meet applicable marketing standards as specified by the agreement;
(3) a material failure to meet applicable standards for a dedicated or self-funded line of credit or a trade-in or self-funded trade-in line of credit as specified by the agreement; or
(4) the marketing of the manufacturer's boats by the dealer outside of the dealer's territory in violation of this chapter.