Florida Statutes 545.06 – Acceptance of anything of value by finance company resulting in lessening competition prohibited
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 545.06
- 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
- Person: means an individual, firm, corporation, partnership, limited liability company, association, trustee, receiver, or assignee for the benefit of creditors. 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 finance company to accept or receive, or contract or agree to accept or receive, either directly or indirectly, any payment, thing or service of value from any manufacturer or wholesale distributor of motor vehicles, if the effect of the acceptance or receipt of any such payment, thing, or service of value may be to lessen or eliminate competition, or to create or tend to create a monopoly in the person who accepts or receives such payment, thing, or service of value, or contracts or agrees to accept or receive the same.