La. Stat. tit. 51 § 489

Current with changes from the 2024 Legislative Session

Section 51:489 - Liability for failure to repurchase

In the event that the agent fails or refuses to make payment to the dealer or his heir or heirs as required by this Part within sixty days after shipment of returned items, he shall be liable to the retailer or his heir or heirs for damages in the following amounts:

(1) One hundred percent of the net cost of the equipment, implements, machinery and attachments.

(2) Transportation charges which have been paid by the dealer.

(3) One hundred percent of the current net price of repair parts plus transportation cost.

(4) Interest at the same rate as fixed by law for legal interest, accruing from sixty days after shipment of return items.

La. R.S. § 51:489

Acts 1991, No. 627, §1.

Acts 1991, No. 627, §1.