46.2-1975 - Coercion of retail dealer by manufacturer or distributor with respect to retail installment sales contracts prohibited.
§ 46.2-1975. Coercion of retail dealer by manufacturer or distributor withrespect to retail installment sales contracts prohibited.
A. It shall be unlawful for any manufacturer or distributor, or any officer,agent, or representative of either, to coerce or attempt to coerce any retailT&M vehicle dealer or prospective retail T&M vehicle dealer in theCommonwealth to sell, assign, or transfer any retail installment salescontract obtained by the dealer in connection with the sale by him in theCommonwealth of T&M vehicles manufactured or sold by the manufacturer ordistributor, to a specified finance company or class of finance companies orto any other specified persons by any of the following:
1. Any statement, suggestion, promise, or threat that the manufacturer ordistributor will in any manner benefit or injure the dealer, whether thestatement, suggestion, threat, or promise is expressed or implied or madedirectly or indirectly.
2. Any act that will benefit or injure the dealer.
3. Any contract, or any expressed or implied offer of contract, made directlyor indirectly to the dealer, for handling the T&M vehicle on the conditionthat the dealer sell, assign, or transfer his retail installment salescontract on the T&M vehicle, in the Commonwealth, to a specified financecompany or class of finance companies or to any other specified person.
4. Any expressed or implied statement or representation made directly orindirectly that the dealer is under any obligation whatsoever to sell,assign, or transfer any of his retail sales contracts in the Commonwealth onT&M vehicles manufactured or sold by the manufacturer or distributor to afinance company, or class of finance companies, or other specified person,because of any relationship or affiliation between the manufacturer ordistributor and the finance company or companies or the specified person orpersons.
B. Any such statements, threats, promises, acts, contracts, or offers ofcontracts, when their effect may be to lessen or eliminate competition ortend to create a monopoly, are declared unfair trade practices and unfairmethods of competition and are prohibited.
C. Any person violating any of the provisions of this article shall be guiltyof a Class 1 misdemeanor.
(1995, cc. 767, 816; 1996, cc. 1043, 1052.)