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2019 SESSION

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SB 1464 Manufacturer or distributor; right of first refusal.

Introduced by: Jeremy S. McPike | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Manufacturer or distributor right of first refusal. Provides that a manufacturer or distributor's right to first refusal in the event of a proposed sale or transfer of a dealership does not apply if such sale or transfer is not to a dealer licensed anywhere in the United States as a dealer holding a franchise from any manufacturer or to a distributor licensed as a manufacturer or distributor in the Commonwealth unless the exercise of such right of first refusal by a manufacturer or distributor with a program promoting minority dealers would lead to a minority dealer having a majority ownership of a dealership. The bill exempts certain manufacturers and distributors from the limitations on the right of first refusal.


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