HR 2796
111th Congress
House
Finance and Financial Sector
Bankruptcy
Contracts and agency
Manufacturing
Motor vehicles
Retail and wholesale trades
Automobile Dealer Economic Rights Restoration Act of 2009
Introduced: June 10, 2009
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 10, 2009
Referred to the House Committee on Financial Services.
Jun 10, 2009
Introduced in House
Plain-English 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.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1