§ 696-g. Death or incapacity of dealer. 1. In the event of the death or incapacity of the dealer or the majority stockholder of a corporation operating as a dealer, the supplier shall, at the option of the heirs at law, if the dealer died intestate, or the executor under the terms of the deceased dealer's last will and testament, if said dealer died testate, repurchase the inventory from the estate as if the supplier had terminated the contract and the inventory repurchase provisions of section six hundred ninety-six-f of this article are made expressly applicable hereto. The heirs or executor shall have nine months from the date of the death of the dealer or majority stockholder to exercise the option under this article. However, nothing in this article shall require the repurchase of inventory if the heirs or executor and the supplier enter into a new dealer agreement, or if a successor to the dealer is established pursuant to paragraph (j) of subdivision three of section six hundred ninety-six-b of this article. This section shall be subject to that portion of the supplier's agreement with the dealer pertaining to death of the dealer or succession, to the extent such agreement is not inconsistent herewith.

2. The provisions of this section shall be supplemental to any agreement between the dealer and the supplier covering the return of equipment, attachments and repair parts which provides the dealer with greater protection. The heirs or executor can elect to pursue either the contract remedy or the remedy provided herein, and an election by the heirs or executor to pursue contract remedy shall not bar such heirs' or executor's right to the remedy provided herein as to those equipment, attachments and repair parts not affected by the contract remedy. Notwithstanding anything contained herein, the rights of a supplier to charge back to the dealer's account amounts previously paid or credited as a discount incident to the dealer's purchase of goods shall not be affected. Further, any repurchase hereunder shall not be subject to the provisions of the bulk sales law. Additionally, nothing shall preclude a price for return parts which is greater than the total allowance for parts allowed herein and the shipping allowance, in such case the packing, freight and handling expense charge shall not be borne by the supplier.