Texas Business & Commerce Code - Section 19.47. Late Payment
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Texas Lawyer > Business & Commerce Code > Texas Business & Commerce Code - Section 19.47. Late Payment
§ 19.47. LATE PAYMENT. If a supplier does not make the
payments required by this subchapter before the 61st day after the
date that the supplier received the final shipment of the
inventory, data processing equipment or software, or specialized
repair tools from the dealer, the supplier is liable to the dealer
for:
(1) the greater of the dealer cost or current price of
the inventory;
(2) the cost to the dealer of the data processing
equipment and software, and specialized repair tools;
(3) the expenses incurred by the dealer in returning
the inventory, data processing equipment and software, and
specialized repair tools to the supplier;
(4) interest on amounts due under Subdivisions (1)
through (3) of this section, at the rate applicable to a judgment of
a court of this state, for the period beginning on the 61st day
after the date the supplier received the inventory, data processing
equipment or software, or specialized repair tools;
(5) reasonable attorney's fees; and
(6) court costs.
Added by Acts 1991, 72nd Leg., ch. 119, § 1, eff. May 19, 1991.
Section: 19.27 19.28 19.41 19.42 19.43 19.44 19.45 19.47 20.01 20.02 20.021 20.03 20.031 20.032 20.033
Last modified: August 10, 2007
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