New Mexico § 56-5-5 [Bills of exchange; nonacceptance or nonpayment;

New Mexico Statutes

§ 56-5-5 — [Bills of exchange; nonacceptance or nonpayment;

New Mexico § 56-5-5

Ch. 56Commercial Instruments and Transactions

Art. 5Miscellaneous Provisions Relating to Commercial

This text of New Mexico § 56-5-5 ([Bills of exchange; nonacceptance or nonpayment;) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 56-5-5 (2026).

Text

damages and interest recoverable.] The rate of damage to be allowed and paid upon the nonacceptance or nonpayment of bills of exchange drawn or indorsed in this state, when damage is recoverable, shall be as follows: if the bill be drawn upon a person at a place out of the United States, twelve percent upon the principal specified in the bill, with interest on the same from the time of the protest; if drawn upon a person at a place in any of the United States or the territories thereof, six percent with interest.

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damages and interest recoverable.] The rate of damage to be allowed and paid upon the nonacceptance or nonpayment of bills of exchange drawn or indorsed in this state, when damage is recoverable, shall be as follows: if the bill be drawn upon a person at a place out of the United States, twelve percent upon the principal specified in the bill, with interest on the same from the time of the protest; if drawn upon a person at a place in any of the United States or the territories thereof, six percent with interest.