To restore the economic rights of automobile dealers, and for other purposes.
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.
Sponsor introductory remarks on measure. (CR H6314-6315)
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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