If a supplier consents to a proposed sale, transfer or assignment of a franchise, the supplier may require the dealer to pay a transfer fee to the supplier. The transfer fee shall be reasonable in relationship to the sale price of the franchise and shall not exceed one percent of the gross sale price. The transfer fee may not be required to frustrate a proposed sale, transfer or assignment.
Source. 1983, 456:2, eff. Oct. 1, 1983.