§ 57-16-9 — Franchise renewal; termination; anticipatory termination

New Mexico § 57-16-9

• Jurisdiction: New Mexico
• Ch. 57: Trade Practices and Regulations
• Art. 16: Motor Vehicle Dealers Franchising

Text

A. Anything to the contrary notwithstanding, it is unlawful for the manufacturer, distributor or representative without due cause to fail to renew a franchise on terms then equally available to all its motor vehicle dealers or their prospective purchasers, to terminate a franchise or to restrict the transfer of a franchise unless the dealer receives fair and reasonable compensation for the value of the business. A prospective purchaser may enforce the provisions of this section whether or not the person is a dealer. B. A public announcement by a manufacturer or distributor of an intention to cease manufacturing or distribution of a motor vehicle brand within three years of the announcement or upon expiration of a dealers' current franchise or selling agreement may at the option of an affected dealer be deemed an anticipatory involuntary termination of the dealer's franchise.

Legislative History

1953 Comp., § 64-37-9, enacted by Laws 1973, ch. 6, § 9; 1997, ch. 31, § 3;