Page:United States Statutes at Large Volume 108 Part 4.djvu/850

 108 STAT. 3484 PUBLIC LAW 103-371—OCT. 19, 1994 Public Law 103-371 103d Congress An Act Oct. 19, 1994 [H.R. 1520] Petroleum Marketing Practices Act Amendments of 1994. 15 USC 2801 note. To amend the Petroleum Marketing Practices Act. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the "Petroleum Marketing Practices Act Amendments of 1994". SEC. 2. CONVERSION TO COMPANY OPERATION. Section 1020b)(3)(A)(ii) of the Petroleum Marketing Practices Act (15 U.S.C. 2802(b)(3)(A)(ii)) is amended by inserting after purpose of the following: "converting the leased marketing premises to operation by employees or agents of the franchisor for the benefit of the franchisor or otherwise". SEC. 3. UNDERLYING LEASES. Section 102(c)(4) of the Petroleum Marketing Practices Act (15 U.S.C. 2802(c)(4)) is amended— (1) by striking lease, if and all that follows through "(B) of and inserting the following: "lease, if— ' ^ "(A) the fiianchisee was notified in writing, prior to the commencement of the term of the then existing fiianchise— "(i) of the duration of the underlying lease; and "(ii) of; and i (2) by adding at the end the following new subparagraphs: (B) during the 90-day period after notification was given pursuant to section 104, the fi^nchisor offers to assign to the franchisee any option to extend the underlying lease or option to purchase the marketing premises that is held by the franchisor, except that the franchisor may condition the assignment upon receipt by the franchisor of— "(i) an unconditional release executed by both the landowner and the franchisee releasing the franchisor from any and aJl liability accruing after the date of the assignment for— " (I) financial obligations under the option (or the resulting extended lease or purchase agreement); "(II) environmental contamination to (or originating from) the marketing premises; or "(III) the operation or condition of the marketing premises; and

�