Louisiana Revised Statutes 51:664 – Finance company or agent; subsidies or discrimination by manufacturer or wholesaler prohibited
Current as of: 2023 | Check for updates
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Terms Used In Louisiana Revised Statutes 51:664
- Finance company or finance agency: means any person engaged in the business of financing the sale of motor vehicles, or engaged in the business of purchasing or acquiring promissory notes, either secured by vendor's privilege or chattel mortgage, arising from the sale of motor vehicles in this state. See Louisiana Revised Statutes 51:661
- Manufacturer: means any person who is engaged, either directly or indirectly, in the manufacture of motor vehicles. See Louisiana Revised Statutes 51:661
- Wholesale distributor: means any person engaged, directly or indirectly, in the sale or distribution of motor vehicles to agents or dealers. See Louisiana Revised Statutes 51:661
No manufacturer or wholesale distributor shall pay or give a subsidy to any finance company or finance agency, or discriminate against or in favor of any finance company or finance agency. No finance company or finance agency shall accept any subsidy or the benefit of any discrimination.