§ 57-12-9 — Settlements

New Mexico § 57-12-9

• Jurisdiction: New Mexico
• Ch. 57: Trade Practices and Regulations
• Art. 12: Unfair Trade Practices

Text

A. In lieu of beginning or continuing an action pursuant to the Unfair Practices Act, the attorney general may accept a written assurance of discontinuance of any practice in violation of the Unfair Practices Act from the person who has engaged in the unlawful practice. The attorney general may require an agreement by the person engaged in the unlawful practice that, by a date set by the attorney general and stated in the assurance, he will make restitution to all persons of money, property or other things received from them in any transaction related to the unlawful practice. All settlements are a matter of public record but are not admissible against any defendant in any action brought by any other person or public body against such defendant under the Unfair Practices Act and do not constitute a basis for the introduction of the assurance of discontinuance as prima facie evidence against such defendant in any action or proceeding. B. A person need not accept restitution pursuant to an assurance. His acceptance of restitution bars recovery of any damages in any action by him or on his behalf against the same defendant on account of the same unlawful practice. C. A violation of an assurance entered into pursuant to this section is a violation of the Unfair Practices Act.

Legislative History

1953 Comp., § 49-15-7.1, enacted by Laws 1971, ch. 240, § 3; 1977, ch. 181,