HB2803

Oklahoma HB2803 amends beer distributor agreements, requiring fair market value compensation and inventory purchase upon termination.

Oklahoma HB2803 modifies the termination of beer distributor agreements, ensuring fair market value compensation and inventory purchase. If a brewer terminates a distributor agreement, the successor brewer must compensate the existing distributor for lost distribution rights and purchase remaining inventory. If the parties cannot agree on the fair market value, arbitration is required. The arbitration must be conducted by a panel with specific qualifications and follow the Uniform Arbitration Act.