2011 New Mexico Statutes
Chapter 57: Trade Practices and Regulations
Article 10: Distress Sales, 57-10-1 through 57-10-12
Section 57-10-5: Examination and investigation; grounds for denial of license.
57-10-5. Examination and investigation; grounds for denial of license.
The municipal or county governing body may upon the filing of an application investigate the applicant and examine his affairs in relation to the proposed sale and may examine the inventory and records of the applicant. No license shall be issued if it is found that:
A. the applicant has held a sale subject to regulation under the Distress Sales Act [57-10-1 to 57-10-12 NMSA 1978] at the location described in the application, within three years from the date of the application; or
B. the application states that the applicant or any of its principal officers or agents have been convicted of a violation of the Distress Sales Act or has had a license issued under this act revoked within five years of the filing of this application; or
C. the inventory submitted with the application includes goods, wares or merchandise purchased or held on consignment by the applicant or added to his stock in contemplation of such sale and for the purpose of selling the stock at the distress sale. Any unusual addition to the stock of goods, wares or merchandise which is made within ninety days prior to the filing of the application shall be prima facie evidence that the addition was made in contemplation of the sale and for the purpose of selling the goods at the sale; or
D. the applicant, in ticketing the goods, wares or merchandise for sale has misrepresented the original retail price or value thereof; or
E. the advertisement or advertising themes are false, fraudulent, deceptive or misleading in any respect; or
F. the sales methods to be used by the applicant in conducting the sale will work a fraud upon the purchasers; or
G. the information set forth in the application is insufficient; or
H. representations made in the application are false; or
I. the applicant has acquired bankrupt stock or other distress sale merchandise from another area within six months of the application.
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