Section 57-10-7 - License fee; renewal. - New Mexico Statutes

57-10-7. License fee; renewal.

A.     The fee for any license issued pursuant to the Distress Sales Act [57-10-1 to 57-10-12 NMSA 1978] shall be fifty dollars ($50.00) or 1/4 of 1% of the inventory cost value of the goods, wares or merchandise to be sold at the sale, whichever is more. In no case, however, shall the license fee exceed two hundred dollars ($200).   

B.     If during the period that the license is in effect it appears to the municipal or county governing body that all of the goods in the original inventory have not been sold, the municipal or county governing body may upon application and for good cause shown extend the license for a period not to exceed thirty days.