Nevada § 597.400 - Circumstances under which fair compensation is required on failure of refiner to renew franchise
Full text of Nevada Nevada Revised Statutes § 597.400 — Circumstances under which fair compensation is required on failure of refiner to renew franchise, with citation guidance and answers to common questions.
§ 597.400. Circumstances under which fair compensation is required on failure of refiner to renew franchise
1. A refiner shall not fail to renew the franchise of any retailer without fairly
compensating the retailer at a fair going business value for his or her capital investment
if: (a) The capital investment was entered into with reasonable and prudent business judgment
for the purpose of fulfilling the franchise; and (b) The cancellation or failure to renew was not done in good faith. 2. For the purposes of this section, “capital investment” includes, but is not limited
to, tools, equipment and any inventory of parts possessed by the retailer on the day
of notification of cancellation or nonrenewal and which are still in the retailer's
possession on the day the cancellation or nonrenewal is effective.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 597.400
What does Nevada Revised Statutes § 597.400 cover?
Section 597.400 ("Circumstances under which fair compensation is required on failure of refiner to renew franchise") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 597.400?
A common citation format is "Nevada Revised Statutes § 597.400" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 597.400 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.