FL H1307

Reorders and amends section 545.01, Florida Statutes to revise definitions relating to motor vehicle financing, including reordering terms for "Person," "Sell/Sold/Buy/Purchase," "Dealer," "Finance company," "Manufacturer," and "Wholesale distributor."

Defines "financed product" as a motor vehicle service agreement or other product regularly sold by a motor vehicle dealer that is purchased as part of the sale or lease of a motor vehicle.

Creates section 545.045, Florida Statutes, prohibiting manufacturers or wholesale distributors that offer a financed product from refusing to purchase or accept assignment of conditional sales contracts, retail installment sales contracts, chattel mortgages, or other papers arising from retail sales or leases that include a third party's financed product.

Prohibits manufacturers or wholesale distributors from charging additional fees or altering terms when purchasing or accepting assignment of financing documents that include a third party's financed product of like kind and quality.

Effective date: July 1, 2013.