FL S1354

Reorders and revises definitions in Florida's motor vehicle financing laws, renumbering sections 545.01 while clarifying existing terms for person, seller, manufacturer, wholesale distributor, dealer, and finance company.

Expands definitions of "manufacturer" and "wholesale distributor" to include finance companies affiliated with or controlled by these entities through common ownership, officers, directors, or management.

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

Prohibits manufacturers or wholesale distributors offering financed products from refusing to purchase or accept assignment of contracts including a third party's financed product, charging additional fees for such purchases or assignments, or altering the terms of such transactions.

Takes effect July 1, 2013.