H.R. 2796 · 111th Congress
Automobile Dealer Economic Rights Restoration Act of 2009
- Stage
- In committee
- Sponsor
- Steven LaTourette
- Introduced
- 2009-06-10
- Latest action
- 2009-06-10 · Introduced in House
Summary
Automobile Dealer Economic Rights Restoration Act of 2009 - Prohibits any automobile manufacturer (manufacturer) in which the federal government has a financial or ownership interest from depriving an automobile dealer (dealer) of its economic rights under a dealer agreement. Requires the manufacturer to assume (or assign to a successor) each agreement in existence before the commencement of a federal bankruptcy case by the manufacturer.
Directs any such manufacturer, if a valid dealer agreement is not assumed or assigned, to require the new entity created in the bankruptcy case to enter into a new agreement, under the same terms.