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Current as of January 01, 2021 | Updated by FindLaw Staff
If a supplier fails or refuses to repurchase and pay a dealer for any inventory the supplier is required to repurchase in accordance with the provisions of NRS 597.112 to 597.118, inclusive, within 60 days after shipment of the inventory to the supplier, the supplier is liable for:
1. An amount equal to 100 percent of the net price of the inventory;
2. Any shipping charges paid by the dealer;
3. Attorney's fees and court costs; and
4. An amount equal to the interest on the amount of the net price calculated at the legal rate of interest from the 61st day after the date of the shipment of the inventory to the supplier.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 52. Trade Regulations and Practices § 597.1163. Failure of supplier to repurchase inventory - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-52-trade-regulations-and-practices/nv-rev-st-597-1163/
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 or via Westlaw before relying on it for your legal needs.
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