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2020 New Mexico Statutes
Chapter 24 - Health and Safety
Article 1I - Health Care Practitioner Agreements
Section 24-1I-4 - Liquidated damages.

Universal Citation:
NM Stat § 24-1I-4 (2020)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

A. An agreement may provide for liquidated damages in an amount that is reasonable at the time the agreement is executed and in light of anticipated harm and difficulty of proving the amount of loss resulting from breach of the agreement by any party.

B. A provision in an agreement fixing unreasonably large liquidated damages is void as a penalty.

History: Laws 2015, ch. 96, § 4.

ANNOTATIONS

Effective dates. — Laws 2015, ch. 96 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 19, 2015, 90 days after the adjournment of the legislature.

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