§ 33-01-320. Grantor's power to revoke.

A.

Grantor reserves the right to revoke any franchise granted pursuant to this chapter and rescind all rights and privileges associated with it in the following circumstances, each of which shall represent a default by grantee and a material breach under the franchise grant:

B.

If grantee shall default in the performance of its material obligations under this chapter or the franchise agreement and shall continue such default after receipt of due notice and reasonable opportunity to cure the default;

C.

If grantee shall fail to provide or maintain in full force and effect the insurance coverage or security fund as required in the franchise agreement;

D.

If grantee shall violate any order or ruling of any regulatory body having jurisdiction over the grantee relative to the grantee's franchise, unless such order or ruling is being contested by grantee by appropriate proceedings conducted in good faith;

E.

If grantee practices any fraud or deceit upon grantor;

F.

If grantee becomes insolvent, unable or unwilling to pay its debts, or is adjudged a bankrupt. The termination and forfeiture of the grantee's franchise shall in no way affect any right of grantor to pursue any remedy under the franchise or any provision of law.

(Ord. No. 958, § 32, 10-24-95)