Florida Statutes 545.05 – Paying or giving anything to finance company to lessen competition prohibited
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 545.05
- Contract: A legal written agreement that becomes binding when signed.
- Finance company: means a person engaged in the business of financing the sale or lease of motor vehicles, or engaged in the business of purchasing or acquiring vehicle contracts in this state. See Florida Statutes 545.01
- Manufacturer: means a person engaged, directly or indirectly, in the manufacture of motor vehicles. See Florida Statutes 545.01
- Wholesale distributor: means a person engaged, directly or indirectly, in the sale or distribution of motor vehicles to agents or to dealers. See Florida Statutes 545.01
It is unlawful for any manufacturer or wholesale distributor of motor vehicles, to pay or give, or contract to pay or give any thing or service of value to any finance company if the effect of any such payment or the giving of any such thing or service of value may be to lessen or eliminate competition, or tend to create or create a monopoly in the finance company which receives or accepts such thing or service of value.