Section 57-23-6 - Late payment. - New Mexico Statutes

57-23-6. Late payment.

If a supplier does not make the payment required by the Franchise Termination Act [57-23-1 to 57-23-8 NMSA 1978] 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.