Ohio Code 4517.40 – Restricting retail installment contract sales
Current as of: 2024 | Check for updates
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(A) No person who is engaged in or about to engage in the business of selling motor vehicles at retail shall enter into any contract, agreement, or understanding, express or implied, with any manufacturer or distributor of motor vehicles, that the person will sell only to a designated person or class of persons all or any part of the retail installment contracts arising out of the sale by the person of motor vehicles, or that the person will refuse to sell such retail installment contracts to any designated person or class of persons. Any such contract, agreement, or understanding is void.
Attorney's Note
Under the Ohio Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Misdemeanor of the fourth degree | up to 30 days | up to $250 |
Terms Used In Ohio Code 4517.40
- Contract: A legal written agreement that becomes binding when signed.
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- Whoever: includes all persons, natural and artificial; partners; principals, agents, and employees; and all officials, public or private. See Ohio Code 1.02
(B) Whoever violates this section is guilty of a misdemeanor of the fourth degree.