N.Y. Vehicle & Traffic Law Section 467
Dealership facilities assistance upon termination, cancellation or nonrenewal

Upon a permitted termination, cancellation or nonrenewal by the franchisor, unless such termination, cancellation or nonrenewal is for a reason or reasons set forth in subparagraph three of paragraph (d) of subdivision two of § 463 (Unfair business practices by franchisors)section four hundred sixty-three of this article, the franchisor shall assume the obligations for any lease of the dealership facilities or arrange for a new lease of the dealership facilities or pay the dealer the lease payments for one year, whatever is less, or negotiate a lease termination for the dealership facilities at the franchisor’s expense. If the facilities are owned by the franchised motor vehicle dealer, the franchisor shall pay such dealer a sum equivalent to the reasonable rental value of the dealership facility for one year, provided the franchised motor vehicle dealer shall mitigate damages in the case of an owned facility.

Source: Section 467 — Dealership facilities assistance upon termination, cancellation or nonrenewal, https://www.­nysenate.­gov/legislation/laws/VAT/467 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 467’s source at nysenate​.gov

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