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Current as of January 01, 2023 | Updated by Findlaw Staff
In the event that the agent fails or refuses to make payment to the dealer or his heir or heirs as required by this Part within sixty days after shipment of returned items, he shall be liable to the retailer or his heir or heirs for damages in the following amounts:
(1) One hundred percent of the net cost of the equipment, implements, machinery and attachments.
(2) Transportation charges which have been paid by the dealer.
(3) One hundred percent of the current net price of repair parts plus transportation cost.
(4) Interest at the same rate as fixed by law for legal interest, accruing from sixty days after shipment of return items.
Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 51, § 489. Liability for failure to repurchase - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-51-sect-489/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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