Motor vehicle dealers; sale of franchise. Changes the deadline for a vehicle manufacturer, factory branch, distributor, or distributor branch to reject the sale or transfer of a dealership from 30 days prior to the effective date of the sale or transfer to 60 days from the receipt of notice from the dealer of the proposed sale or transfer and lists requirements for such notice from the dealer. The bill provides that an objection to a sale or transfer based on an applicant's years of motor dealer management experience is a reasonable objection but removes the right to object based on other applicant qualifications. The bill further provides that a franchisor's consent to a relocation of a business cannot be unreasonably withheld. This bill is identical to HB 191.

Statutes affected:
Senate: Prefiled and ordered printed; offered 01/10/24 24101314D: 46.2-1569
Senate: Committee substitute printed 24106300D-S1: 46.2-1569
Senate: Bill text as passed Senate and House (SB534ER): 46.2-1569
Senate: Reenrolled bill text (SB534ER2): 46.2-1569
Governor: Acts of Assembly Chapter text (CHAP0791): 46.2-1569