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Section 57-23-6 - Late payment — New Mexico Law | CourtGPT
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  6. Section 57-23-6 - Late payment
New Mexico Legal Code

Section 57-23-6 - Late payment

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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. History: Laws 1985, ch. 229, § 6.