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2019 SESSION

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SB 1333 Motor vehicle dealers and manufacturers; transfer or discontinuation of manufacturing rights.

Introduced by: John A. Cosgrove, Jr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Motor vehicle dealers and manufacturers; franchises; transfer or discontinuation of manufacturing rights. Provides that if a motor vehicle manufacturer or factory branch discontinues, sells, or transfers its right to manufacture a line-make of motor vehicles, and the acquiring manufacturer or factory branch does not honor an existing franchise agreement with motor vehicle dealers in Virginia, such discontinuation, sale, or transfer shall constitute a termination of the franchise and such motor vehicle dealers shall be entitled to compensation pursuant to Virginia law.

SUMMARY AS INTRODUCED:

Motor vehicle dealers and manufacturers; franchises; transfer or discontinuation of manufacturing rights. Provides that if a motor vehicle manufacturer or factory branch transfers or discontinues its right to manufacture a line-make of motor vehicles, all franchises granted to motor vehicle dealers by that manufacturer in the Commonwealth shall continue in full force, with modification to reflect that the new manufacturer of that line-make of motor vehicles will be substituted for the prior manufacturer.