Clarifies motor vehicle dealer laws in North Carolina, including dealership succession, compensation for over-the-air products, and franchise.

This bill amends North Carolina's motor vehicle dealer laws to clarify dealership succession, compensation for over-the-air products, and franchise terminations. It allows dealers to appoint successors, mandates compensation for over-the-air products sold to customers, and outlines conditions for terminating, canceling, or nonrenewing a franchise. The bill also specifies that manufacturers must provide dealers with monthly statements detailing over-the-air sales and requires manufacturers to compensate dealers for unsold vehicles and certain costs if a franchise is terminated.

Clarifies motor vehicle dealer laws in North Carolina, including dealership succession, compensation for over-the-air products, and franchise.

This bill amends North Carolina's motor vehicle dealer laws to clarify dealership succession, compensation for over-the-air products, and franchise terminations. It allows dealers to appoint successors, mandates compensation for over-the-air products sold to customers, and outlines conditions for terminating, canceling, or nonrenewing a franchise. The bill also specifies that manufacturers must provide dealers with monthly statements detailing over-the-air sales and requires manufacturers to compensate dealers for unsold vehicles and certain costs if a franchise is terminated.