545.045 Purchase or assignment of third-party financing.—
(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.
Section: Previous 545.01 545.02 545.03 545.04 545.045 545.05 545.06 545.07 545.08 545.09 545.10 545.11 545.12 NextLast modified: September 23, 2016