The provisions of the Prompt Payment Act do not apply to construction contracts for residential property containing four or fewer dwelling units.
§ 57-28-3 NMSA 1978
Applicability of act
Known as the Prompt Payment Act
The act spans §§ 57–57 (11 sections).
Laws 2001, ch. 68, § 3; 2007, ch. 213, § 3.
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.