523H.11 Repurchase of assets. A franchisor shall not prohibit a franchisee from, or enforce a prohibition against a franchisee, engaging in any lawful business at any location after a termination or refusalto renew by a franchisor, unless it is one which relies on a substantially similar marketingprogram as the terminated or nonrenewed franchise or unless the franchisor offers inwriting no later than ten business days before expiration of the franchise to purchase theassets of the franchised business for its fair market value as a going concern. The valueof the assets shall not include the goodwill of the business attributable to the trademarklicensed to the franchisee in the franchise agreement. The offer may be conditioned uponthe ascertainment of a fair market value by an impartial appraiser. This section does notapply to assets of the franchised business which the franchisee did not purchase from thefranchisor, or the agent of the franchisor. 92 Acts, ch 1134, §11; 95 Acts, ch 117, §6 Sat Dec 23 01:02:44 2023 Iowa Code 2024, Section 523H.11 (14, 0)
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