Section 57-23-6 - Late payment.
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.