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Section 57-23-6 - Late payment.

NM Stat § 57-23-6 (2019) (N/A)
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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.

History: Laws 1985, ch. 229, § 6.

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Section 57-23-7 - Security interest.