LegalFix
Sign In

NRS 597.1163 - Failure of supplier to repurchase inventory.

NV Rev Stat § 597.1163 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

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.

(Added to NRS by 2003, 3403)

Previous Section
NRS 597.116 - Limitations on requirements for supplier to repurchase inventory.
Next Section
NRS 597.1167 - Death of dealer or majority shareholder of dealer.