41-4-1 - Agreements to finance through designated source which lessen competition or create monopoly declared void.
41-4-1. Agreements to finance through designated source which lessen competitionor create monopoly declared void.
It shall be unlawful for any person who is engaged, either directly or indirectly, in themanufacture or distribution of motor vehicles, to sell or enter into a contract to sell motorvehicles, whether patented or unpatented, to any person who is engaged or intends to engage inthe business of selling such motor vehicles at retail in this state, on the condition or with anagreement or understanding, either express or implied, that such person so engaged in sellingmotor vehicles at retail shall in any manner finance the purchase or sale of any one or number ofmotor vehicles only with or through a designated person or class of persons or shall sell andassign the conditional sales contracts, chattel mortgages or leases arising from the sale of motorvehicles or any one or number thereof only to a designated person or class of persons, when theeffect of the condition, agreement or understanding so entered into may be to lessen or eliminatecompetition, or create or tend to create a monopoly in the person or class of persons who aredesignated, by virtue of such condition, agreement or understanding to finance the purchase orsale of motor vehicles or to purchase such conditional sales contracts, chattel mortgages or leases,and any such condition, agreement or understanding is hereby declared to be void and against thepublic policy of this state.
No Change Since 1953