Petroleum products franchises; rights of dealers upon sale or assignment of franchise agreement. (SB714)
Introduced By
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Petroleum products franchises; rights of leasing franchisor. Prohibits a franchisor that owns a marketing premises that it leases to a petroleum products dealer or owns a leasehold interest in premises that are occupied by a dealer from selling, transferring, or assigning the franchisors interest in the premises to another person unless the franchisor has first either (i) made a bona fide offer to sell, transfer, or assign to the dealer the franchisors interest in the premises or (ii) if applicable, offered to the dealer a right of first refusal of any bona fide offer acceptable to the franchisor made by another person or party to purchase the franchisors interest in the premises. Amends § 59.1-21.9 (“Findings of General Assembly.”), of the Code of Virginia. View Full Text »
Comments
This bill insulates one class of business from competition and gives them privileges not enjoyed by any other petroleum marketer in Virginia.
If this bill passes, will the next step be to give every residential and commercial tenant in Virginia the right of first refusal to purchase properties they rent or lease?