(1) When a vehicle contract contains a third-party provider’s automotive-related product that is of similar nature, scope, and quality to an automotive-related product offered for sale by an affiliated finance company or its related manufacturer or wholesale distributor, that affiliated finance company may not, solely because the vehicle contract contains a third party’s automotive-related product:
(a) Refuse to purchase or accept the assignment of the vehicle contract from a dealer; or
(b) Charge a dealer an additional fee or surcharge for the purchase of, or acceptance of the assignment of, the vehicle contract.
(2) Factors in determining whether an automotive-related product is similar in nature, scope, and quality include, but are not limited to, the financial capacity of the third-party provider to meet all of its obligations, inclusive of any contractual liability insurance policies, and the third-party provider’s history of compliance with any applicable state and federal regulations.
(3) A violation of this section does not constitute a criminal offense pursuant to s. 545.12.
History.—s. 2, ch. 2014-130.
Structure Florida Statutes
Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations
Chapter 545 - Combinations Restricting Financing of Motor Vehicles
545.03 - Threats by Manufacturer or Wholesaler as Prima Facie Evidence of Intent to Violate Law.
545.04 - Threats by Finance Company Presumed to Be Made by Manufacturer or Wholesaler.
545.045 - Purchase or Assignment of Third-Party Financing.
545.05 - Paying or Giving Anything to Finance Company to Lessen Competition Prohibited.
545.07 - Acceptance of Benefits by Finance Company for Purpose of Lessening Competition Prohibited.
545.08 - Department of Legal Affairs or State Attorney to Institute Suit Upon Violation of Law.
545.10 - Contract in Violation of Law Declared Void.