There is a newer version of the New Mexico Statutes
2014 New Mexico Statutes
Chapter 57 - Trade Practices and Regulations
Section 10 Distress Sales
Section 57-10-4 Application for license.
NM Stat § 57-10-4 (2014) What's This?
57-10-4. Application for license.
Any person desiring to conduct a distress merchandise sale shall make a written application verified under oath to the municipal governing body if the sale is to be held within the boundaries of an incorporated municipality or to the county governing body if the sale is to be held outside the boundaries of an incorporated municipality, at least fifteen days prior to the date on which the sale is to commence unless the merchandise to be sold consists of perishable goods, or goods damaged by smoke, fire or water in which case the fifteen-day time period will not be applicable. Each application shall contain the following information and such other information as the municipal or county governing body shall require:
A. the name and address of the owner of the goods, wares or merchandise to be sold;
B. a description of the place where such sale is to be held;
C. the nature of the occupancy of the place where such sale is to be held, whether by lease or otherwise, and the effective date of the termination of the occupancy of the premises;
D. the commencement and termination dates of the distress merchandise sale;
E. a full and complete statement of the facts regarding the reasons why the distress merchandise sale is being conducted, the manner in which the sale is to be conducted, the means to be employed in advertising the sale, together with the content of any proposed advertisement or advertising themes, or copies thereof;
F. if a defunct business is involved, the name and address of the defunct business, and the owner or former owner thereof;
G. a complete and detailed inventory of the goods, wares and merchandise including goods received on consignment to be offered at the distress merchandise sale, the terms and conditions of the acquisition of the property, the amount and description of the goods, wares or merchandise to be sold and the location of the goods, wares and merchandise at the time of the filing of the application;
H. a statement that the applicant has not in contemplation of the distress merchandise sale ordered, purchased or received on consignment any goods, wares or merchandise for the purpose of selling them at the sale within ninety days prior to the filing of the application;
I. a statement that no goods will be added to the inventory after the application is made or during the sale;
J. a statement that the applicant or its principal officers or agents have not been convicted of a violation of the Distress Sales Act [57-10-1 to 57-10-12 NMSA 1978] or had a license issued under this act revoked within five years of the filing of this application.
History: 1953 Comp., 49-14-4, enacted by Laws 1967, ch. 205, 4.
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