H.R.2796 - Automobile Dealer Economic Rights Restoration Act of 2009111th Congress (2009-2010)
|Sponsor:||Rep. LaTourette, Steven C. [R-OH-14] (Introduced 06/10/2009)|
|Committees:||House - Financial Services|
|Latest Action:||House - 06/10/2009 Referred to the House Committee on Financial Services. (All Actions)|
This bill has the status Introduced
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Summary: H.R.2796 — 111th Congress (2009-2010)All Information (Except Text)
Introduced in House (06/10/2009)
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.