Section 57-16-7.1 – Sales and service incentives; audit.
A manufacturer or distributor may audit a claim for sales and service incentives only during the six-month period immediately following payment or credit issued for the claim; however, this limitation shall not apply if there is a reasonable suspicion of fraud. History: Laws 1997, ch. 14, § 2; 2011, ch. 111, § 2; 2011, ch. […]
Section 57-16-1 – Declaration of policy.
The distribution and sale of motor vehicles in this state vitally affects the general economy of the state and the public interest and welfare of its citizens. It is the policy of this state and the purpose of this act to exercise the state’s police power to ensure a sound system of distributing and selling […]
Section 57-16-2 – Application of act.
The provisions of this act shall apply to all persons, manufacturers, representatives, distributors and dealers and to all written or oral agreements between a manufacturer, distributor or representative with a motor vehicle dealer including, but not limited to, the franchise offering, the franchise agreement, sales of goods, services or advertising, leases or mortgages of real […]
Section 57-16-3 – Definitions.
As used in Chapter 57, Article 16 NMSA 1978: A. “current price” means an amount equal to the price listed in the manufacturer’s or distributor’s printed price list in effect when the franchise is terminated, less applicable trade and cash discounts; B. “dealer cost” means an amount equal to the sum of the original invoice […]