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Current as of January 01, 2024 | Updated by Findlaw Staff
If a supplier does not make the payment required by the Franchise Termination Act before the sixty-first day after the day that the supplier received the final shipment of the inventory from the dealer, the supplier shall be liable to the dealer for:
A. the greater of the dealer cost or current price of the inventory;
B. the expenses incurred by the dealer in returning the inventory to the supplier;
C. interest on the greater of the dealer cost or current price of the inventory, at the rate applicable to a judgment of a court of this state, for the period beginning on the sixty-first day after the day the supplier received the inventory;
D. reasonable attorney's fees; and
E. costs.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 57. Trade Practices and Regulations § 57-23-6. Late payment - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-57-trade-practices-and-regulations/nm-st-sect-57-23-6/
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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