New Mexico § 57-23-6 Late payment

New Mexico Statutes

§ 57-23-6 — Late payment

New Mexico § 57-23-6

Ch. 57Trade Practices and Regulations

Art. 23Franchise Termination

This text of New Mexico § 57-23-6 (Late payment) 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. § 57-23-6 (2026).

Text

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.

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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.