The rate of damage to be allowed and paid upon the nonacceptance or nonpayment of bills of exchange drawn or indorsed in this state, when damage is recoverable, shall be as follows: if the bill be drawn upon a person at a place out of the United States, twelve percent upon the principal specified in the bill, with interest on the same from the time of the protest; if drawn upon a person at a place in any of the United States or the territories thereof, six percent with interest.
§ 56-5-5 NMSA 1978
[Bills of exchange; nonacceptance or nonpayment; damages and interest recoverable.]
Laws 1851-1852, p. 283; C.L. 1865, ch. 14, § 4; C.L. 1884, § 1728; C.L. 1897, § 2543; Code 1915, § 592; C.S. 1929, § 27-104; 1941 Comp., § 53-705; 1953 Comp., § 50-7-5.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.