A. Any dealer harmed by the failure of a manufacturer to comply with Section 254.3 or 254.4 of this title shall be entitled to bring a private right of action against the manufacturer for the recovery of the fair market value of the business affected and to recover treble actual and special damages, and such other relief to which it may be entitled at law or in equity. The dealer shall be entitled to recover its reasonable attorney fees and all expenses and costs incurred due to the private right of action if the dealer prevails. In addition, if a manufacturer commits an act prohibited by Section 254.3 or 254.4 of this title, the manufacturer shall purchase from the affected dealer the following items at the following prices:

1. All aircraft in the inventory of the dealer of aircraft held for resale at the fair market value; and

2. All parts and supplies acquired by the dealer from the manufacturer which are in the inventory of the dealer at the time of the violation of the manufacturer at the current price list amounts of the manufacturer; and

3. All equipment and specialty tools owned by the dealer and purchased from the manufacturer for use in the sale, service, or maintenance of the aircraft manufactured or sold to the dealer by the manufacturer at the fair market value. If any items are encumbered or subject to any outstanding financing statement, the payments shall be made jointly to the dealer and the secured party to the extent of their respective interests. If any items are leased by the dealer, the manufacturer shall assume all future obligations under the lease.

B. This section shall apply only to agreements between dealers and manufacturers in effect prior to July 1, 2007, and all revisions, modifications, extensions, amendments and replacements of such agreements.

C. If the relationship between a manufacturer and a dealer is set forth in more than one contract or agreement, then the revision, modification, amendment, replacement, cancellation, termination, or failure to renew of one or more such contracts or agreements shall not deny the dealer a right of action under this section for any acts by the manufacturer relating to the remaining contracts.

D. Any entity meeting the definition of “dealer” provided in paragraph 2 of Section 254.2 of this title shall continue to be considered a dealer for the purposes of this section and Sections 254.3, 254.4 and 254.6 of this title notwithstanding that any such agreement or portion thereof is terminated, cancelled, or not renewed by the manufacturer.

Added by Laws 2004, c. 286, § 4, eff. Nov. 1, 2004. Amended by Laws 2005, c. 107, § 4, eff. Nov. 1, 2005; Laws 2007, c. 198, § 2, eff. July 1, 2007; Laws 2008, c. 292, § 5, emerg. eff. June 2, 2008.