Section 407.897

Title XXVI TRADE AND COMMERCE

Chapter 407

Effective - 28 Aug 1989   

  407.897.  Law to apply to successors in interest — not applicable, when — application to existing contracts and future contracts. — 1.  The obligations of any wholesaler, manufacturer or distributor created by the provisions of sections 407.890 to 407.898 apply to any successor in interest or assignee of that wholesaler, manufacturer, or distributor.  A successor in interest includes any purchaser of substantially all of the assets or over fifty percent of the stock, any surviving corporation resulting from a merger or liquidation, any receiver, or any trustee of the original wholesaler, manufacturer or distributor.

  2.  The provisions of sections 407.890 to 407.898 shall not apply to such manufacturer in the state of Missouri who employs less than fifty employees or to any distributor who distributes solely within the state of Missouri and who employs less than five employees for the two-year period prior to the dealer termination and shall apply to all contracts now in effect which have no expiration date and are continuing contracts and all other contracts entered into, amended, or renewed after August 31, 1989.  Any contract in force and effect on September 1, 1989, which by its terms will terminate on a date subsequent thereto is governed by the law as it existed before September 1, 1989.

­­--------

(L. 1989 S.B. 41 §§ 5, 6)