Relating to motor vehicle dealerships; and declaring an emergency.
Catchline/Summary:
Modifies motor vehicle inventory for which dealer may be allowed fair and reasonable compensation upon termination, cancellation, nonrenewal or discontinuance of franchise. Modifies motor vehicle inventory for which dealer may be allowed fair and reasonable compensation upon termination, cancellation, nonrenewal or discontinuance of franchise.
Increases amount of damage to new motor vehicle requiring disclosure to prospective purchaser.
Requires manufacturer, distributor or importer of motor vehicles to provide motor vehicle dealership, when manufacturer, distributor or importer discontinues that dealer's franchise as result of bankruptcy] for any reason other than good cause, with reasons why that dealer's franchise was discontinued instead of another dealer's franchise.
Allows former dealer to enjoin manufacturer, distributor or importer from franchising additional or replacement motor vehicle dealership or relocating existing motor vehicle dealership within former dealer's relevant market area for good cause. Allows dealer and former dealer to enjoin manufacturer's, distributor's or importer's successor in interest. Specifies that dealer and former dealer may file enjoinment within five years of expiration or termination of former franchise under certain circumstances. Specifies remedy for enjoinment.
Declares emergency, effective on passage.
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HB 2739
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