SB 768 Summary: Marine Product Manufacturers and Dealers Act

• Establishes comprehensive regulatory framework for relationships between marine product manufacturers, distributors, wholesalers, and dealers, effective July 1, 2012.

• Requires manufacturers to provide fair warranty agreements with minimum compensation standards: dealer's established hourly retail labor rate for labor and cost plus 25 percent markup for parts; warranty claims must be approved/paid within 30 days or disapproved with written explanation.

• Mandates manufacturers repurchase dealer inventory upon franchise termination at actual cost for unsold products and 85 percent of wholesale cost for parts; provides treble damages if repurchase not completed within 60 days.

• Prohibits unfair dealer practices including coerced inventory orders, discriminatory pricing, termination without 180-day notice and due cause, unreasonable restrictions on ownership transfers, and forced exclusive representation; requires 10 percent commission on direct manufacturer sales in dealer's market area.

• Grants dealers civil remedies including treble damages, attorney fees, injunctive relief, and class action rights; allows Department of Legal Affairs and state attorneys to enforce violations.