EXHIBIT 10.47


                        Confidential Treatment Requested.
            Confidential portions of this document have been redacted
               and have been filed separately with the Commission.


                         LARSON MASTER DEALER AGREEMENT


         This master agreement,  effective September 29, 1998, is by and between
Larson/Glastron  Boats, Inc., a Delaware corporation ("Larson") and Travis Boats
& Motors, Inc., a Texas corporation ("Travis") (the "Agreement").

         WHEREAS,   Larson  is  engaged  in  the   manufacture  of  recreational
powerboats  and  accessories  and  the  sale  of  certain  accompanying  engines
("Products")  and  desires  to sell its  Products  to  Travis,  or through or to
certain of its subsidiaries or affiliates ("Travis Subs"); and

         WHEREAS,  Travis and Travis Subs are engaged in the sale of Products to
the retail public and desire to purchase various Products from Larson;

         NOW,  THEREFORE,  in consideration  of the mutual  covenants  contained
herein, the parties agree as follows:

         1. Travis and Travis  Subs.  For purposes of this  Agreement,  the term
Travis when used shall be inclusive  of Travis Subs except  where the  Agreement
specifically uses Travis Subs individually.

         2. Sale of  Product.  Larson  shall  manufacture  and sell to Travis or
Travis Subs those various Products ordered from time to time by Travis or Travis
Subs pursuant to Larson's standard dealer agreement, as mutually agreed upon and
as may be amended from time to time by mutual agreement.

         3. Dealer  Agreements and Relationship to this Master  Agreement.  Each
Travis or Travis Sub retail  location  which  purchases  Larson  Products  shall
execute and be subject to Larson's  standard dealer agreement as mutually agreed
upon by the parties and as may be amended upon mutual

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* INDICATES  CONFIDENTIAL  TREATMENT  REQUESTED.  THE REDACTED MATERIAL HAS BEEN
FILED SEPARATELY WITH THE COMMISSION.

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agreement  of the  parties.  This  Agreement  shall  supplement  and amend  each
individual  standard  dealer  agreement  executed at each Travis retail location
which sells Larson Products. To the maximum extent possible,  this Agreement and
the standard  dealer  agreement  shall be read and  interpreted to be consistent
with each other. In the event there is a conflict  between the dealer  agreement
and this Agreement, the provisions of this Agreement shall control.

         4. Pricing.  During the term of this Agreement Larson shall sell Larson
Products to Travis at all times for *. For  purposes of this  Agreement,  Larson
"model year" means the period  commencing on July 1 of any calendar year through
June 30 of the following  calendar year.  Larson may increase or decrease prices
as follows:

                  a.  Larson may  increase  prices  each  Larson  model year and
Travis shall pay such increases in any Larson model year *:


                           i.  *; or

                           ii. *; or

                           iii. *.

                  b.  *

* INDICATES  CONFIDENTIAL  TREATMENT  REQUESTED.  THE REDACTED MATERIAL HAS BEEN
FILED SEPARATELY WITH THE COMMISSION.

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<PAGE>



*.

                  c.  Notwithstanding  the above, during Larson model year 1999,
the pricing for Larson  Products  pre-rigged to receive Mercury engines shall be
as described on Exhibit A hereto.

         5.  Forecasting.  Travis shall provide Larson,  on or before July 31 of
each calendar year,  with a Travis model year forecast  which  describes (i) the
number and type of Larson  Product  units by month  Travis  expects to order and
take  delivery of between  August 1 and January 15 of the upcoming  Travis model
year  starting on August 1 and (ii) the number and type of Larson  Product units
Travis  expects to order and take delivery of between  January 16 and July 31 of
the  upcoming  Travis  model year.  In addition to the above  annual  model year
forecast,  Travis will forecast its Larson Product  requirements  on a three (3)
month rolling basis, updated monthly. Travis shall submit the forecast to Larson
by the  first  day of each  calendar  month.  Travis  shall  designate  a Travis
representative  with  responsibility  for  forecasting  Product  purchases  from
Larson.  The forecasts  shall be in a form mutually agreed to by the parties and
shall include,  at a minimum, a three-month  projected schedule  identifying the
number of Product  units  scheduled  to be  purchased  by Travis by boat  brand,
model,  and engine brand,  model and  horsepower  each of the three months.  The
first-month forecast in the monthly report shall reflect a firm order previously
accepted by Larson. As a firm order, the first-month forecast may not be changed
and is  non-cancelable,  however,  Larson  reserves  the right to not accept the
portions  of orders in any one month  that  exceed  15  percent  of the  amounts
forecast for that month in the previous months' 3-month rolling forecast. Except
where  Travis may have caused a delay,  Travis may cancel  orders if Product has
not been delivered by Larson within 150 days of Larson's  acceptance of an order
for such Product from Travis.


* INDICATES  CONFIDENTIAL  TREATMENT  REQUESTED.  THE REDACTED MATERIAL HAS BEEN
FILED SEPARATELY WITH THE COMMISSION.


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<PAGE>



         6. Timing of Purchases, Shipping and Delivery. Larson will use its best
efforts to ship then current  Larson model year Products *. Between August 1 and
January 15 of each Travis model year, Travis shall purchase and take delivery of
and Larson shall deliver 40 percent of the Product  units Travis has  forecasted
to  purchase  for such  Travis  model  year in its annual  model year  forecast.
Larson's obligation to deliver is subject to the following:

                           i.  Larson   receiving   Travis'  annual  model  year
                  forecast as set forth in  paragraph 5 herein on or before July
                  31 of each calendar year,

                           ii.  Larson  approving  the  monthly  schedule of the
                  number  and type of Larson  Product  units  Travis  expects to
                  order and take  delivery  of by January 15 as set forth in its
                  annual model year forecast, and

                           iii. Travis submitting actual orders between August 1
                  and  January  15 of such  model  year that do not  exceed  the
                  monthly  schedule set forth in its annual model year  forecast
                  by greater than 15 percent.

         Except where Travis may have caused a delay,  Travis may cancel  orders
if  Product  has not been  delivered  by  Larson  within  150  days of  Larson's
acceptance of the order for such Product from Travis.

         7. Product  Modification.  Travis shall meet with Larson management and
product  engineers in August and January of each year, unless mutually waived by
the parties hereto, to


* INDICATES  CONFIDENTIAL  TREATMENT  REQUESTED.  THE REDACTED MATERIAL HAS BEEN
FILED SEPARATELY WITH THE COMMISSION.

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provide  input into  changes for Larson  Products  for the next model year.  The
August  meeting shall  primarily be to provide input on the structure and design
of the Products.  The January meeting shall primarily be to provide input on the
features and  accessories  of the Products.  Larson will use its best efforts to
incorporate   the   recommendations   made  by  Travis   taking   into   account
considerations such as cost, safety, warranty and standard design.

         Larson reserves the right, without notice or obligation,  to change the
design of the Products to the extent that such change does not materially  alter
the  operation of the Products or to the extent that such change is required due
to product safety concerns,  government  regulations or vendor supply shortages.
Larson will provide Travis with as much notice as reasonably  possible,  but not
less than ninety (90) days prior notice of shipment of a Product  design  change
if such design  change  materially  affects the  appearance  or operation of the
Product.

         8. *


* INDICATES  CONFIDENTIAL  TREATMENT  REQUESTED.  THE REDACTED MATERIAL HAS BEEN
FILED SEPARATELY WITH THE COMMISSION.

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<PAGE>



*.

         9. Warranty.  Larson makes no  representations  or warranties as to its
Products  except as may be described in the Larson  dealer  agreement or Product
materials.  In the event legal  action is  commenced  against  Larson and Travis
related to Larson  Products,  to the extent possible and if no conflict  exists,
Larson and Travis shall  reasonably  agree in writing on the retention of common
counsel and sharing of legal expenses.

         10. Term of the  Agreement.  The term of this  Agreement and the dealer
agreement  between the parties shall  commence on the date of this Agreement and
shall terminate on July 31, 2001.

         11.  Insurance.  Each party to this Agreement shall maintain  liability
insurance  coverage  and shall  provide  evidence of such  coverage to the other
party upon such party's reasonable request.

         12. Force Majeure.  The parties will not be responsible  for failure to
perform any part of this  Agreement or for any delay in the  performance  of any
part of this Agreement,  directly or indirectly resulting from or contributed to
by any foreign or domestic  embargoes,  seizures,  acts of God,  strikes,  labor
disputes, vendor problems, insurrections, wars and/or continuance of war, or the
adoption  or  enactment  of any  law,  ordinance,  regulation,  ruling  or order
directly  or  indirectly   interfering  with   production,   delivery  or  other
contingencies  beyond  their  control.  This Section does not affect the payment
obligations of either party under this Agreement.

         13.  Assignment.  Neither party shall assign or otherwise transfer this
Agreement,  without the prior written consent of the other party,  which consent
shall not be unreasonably withheld.

         14.  Confidentiality.  Each party  agrees that the  specific  terms and
conditions  set  forth in this  Agreement  shall be kept  confidential  and that
neither party hereto shall make any disclosure


* INDICATES  CONFIDENTIAL  TREATMENT  REQUESTED.  THE REDACTED MATERIAL HAS BEEN
FILED SEPARATELY WITH THE COMMISSION.


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regarding  this  Agreement or its terms except as may be required by law or with
the consent of the other party.  In the event either party  concludes that it is
obligated by law to disclose the terms of this Agreement,  such party shall give
the other party 3 business days prior written  notice  before  disclosure  along
with an explanation as to why such disclosure is deemed necessary.

         15.  Disputes.  All disputes  arising out of or in connection with this
Agreement  shall be  resolved  by binding  arbitration  as set forth in Larson's
standard dealer agreement as mutually agreed upon and amended from time to time.

         16.  Severability.  Each of the provisions  contained in this Agreement
shall be  severable,  and the  unenforceability  of one  shall  not  affect  the
enforceability of any others or of the remainder of this Agreement.

         17.  Waiver.  The failure of any party to enforce any condition or part
of this  Agreement  at any time  shall  not be  construed  as a  waiver  of that
condition or part, nor shall such party forfeit any rights to future enforcement
thereof.  The parties  waive  presentment  for payment,  protest,  and notice of
dishonor.

         18. Headings. The headings and captions of the sections and subsections
of this Agreement are inserted for  convenience  only and shall not be deemed to
constitute a part hereof.

         19.  Counterparts.  More than one  counterpart of this Agreement may be
executed by the parties  hereto,  and each fully executed  counterpart  shall be
deemed an original.

         20. Further  Assurances.  Each party will, at the reasonable request of
the  other,  execute  and  deliver  to the other all such  further  instruments,
assignments,  assurances  and  other  documents  as the  other  may  request  in
connection  with  the  carrying  out of  this  Agreement  and  the  transactions
contemplated hereby.


* INDICATES  CONFIDENTIAL  TREATMENT  REQUESTED.  THE REDACTED MATERIAL HAS BEEN
FILED SEPARATELY WITH THE COMMISSION.

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<PAGE>



         21.  Notices.  All  communications,  notices and consents  provided for
herein shall be in writing and be given in person or by means of telex, telecopy
or other wire  transmission  (with  request for assurance of receipt in a manner
typical  with  respect to  communications  of that  type) or by mail,  and shall
become  effective  (x) on the  delivery  if given in person,  (y) on the date of
transmission  if sent by telex,  telecopy  or other wire  transmission  (receipt
confirmed),  or (z) four business days after being deposited in the mails,  with
proper postage for first class registered or certified mail, prepaid.

         Notices shall be addressed as follows:

         If to Larson:

                  Paul Larson Memorial Drive
                  Little Falls, Minnesota 56345
                  Attention:        President
                  Telephone:        320-632-5481
                  Telecopy:         320-632-1439

         With copy to:

                  Genmar Holdings, Inc.
                  100 South Fifth Street Suite 2400
                  Minneapolis, Minnesota 55402
                  Attention:        General Counsel
                  Telephone:        612-339-7600
                  Telecopy:         612-337-1930

         If to Travis:

                  Travis Boats & Motors, Inc.
                  5000 Plaza on the Lake, Suite 250
                  Austin, Texas 78746
                  Attention:        President
                  Telephone:        512-347-8787
                  Telecopy:         512-329-0480

provided,  however, that if either party shall have designed a different address
by notice to the other, then to the last address so designated.


* INDICATES  CONFIDENTIAL  TREATMENT  REQUESTED.  THE REDACTED MATERIAL HAS BEEN
FILED SEPARATELY WITH THE COMMISSION.


                                        8

<PAGE>



         22. No Third  Party  Beneficiaries.  This  Agreement  is solely for the
benefit of the parties hereto and no provision of this Agreement shall be deemed
to confer upon third parties any remedy, claim, liability,  reimbursement, cause
of action or other right in excess of those existing  without  reference to this
Agreement.

         23.  Amendments;  Entire Agreement.  This Agreement may not be amended,
supplemented or otherwise  modified except by an instrument in writing signed by
each of the parties hereto.  This Agreement contains the entire agreement of the
parties hereto with respect to the transactions covered hereby,  superseding all
negotiations,  prior  discussions and  preliminary  agreements made prior to the
date hereof.

         24.  Governing Law. This  Agreement  shall be construed and enforced in
accordance with and governed by the internal laws of the State of Minnesota.

LARSON/GLASTRON BOATS, INC.                    TRAVIS BOATS & MOTORS, INC.


By:      /s/ Grant E. Oppeguard                 By:      /s/ Mark Walton
     --------------------------                   ------------------------------

Its:      Vice President                        Its:      President
     --------------------------                   ------------------------------

Date:   10-7-98                                 Date:   10-8-98
     --------------------------                   ------------------------------

* INDICATES  CONFIDENTIAL  TREATMENT  REQUESTED.  THE REDACTED MATERIAL HAS BEEN
FILED SEPARATELY WITH THE COMMISSION.


                                        9

<PAGE>


                                    Exhibit A
                         Larson Master Dealer Agreement


-------------------------------------------------------------
Larson                               Mercury Price ($)
-------------------------------------------------------------
Flyer 166                                    *
-------------------------------------------------------------
SEI 186                                      *
-------------------------------------------------------------
SEI 186 SF                                   *
-------------------------------------------------------------
SEI 206                                      *
-------------------------------------------------------------


* Indicates  Confidential  Treatment  Requested.  The redacted material has been
filed separately with the Commission.

                                       10