SEC. 75-77-11. Civil liability for failure or refusal to repurchase.

If any wholesaler, manufacturer or distributor shall fail or refuse to repurchase any inventory covered under the provisions of this chapter within sixty (60) days after shipment of such inventory, he shall be civilly liable for one hundred percent (100%) of the current net price of the inventory, plus any freight charges paid by the retailer, the retailer's attorney's fees, court costs and interest on the current net price computed at the legal interest rate from the sixty-first day after shipment.

SOURCES: Laws, 1977, ch. 419, Sec. 6, eff from and after passage (approved March 30, 1977).

1997 Amendment:

SECTION 8. Section 75-77-11, Mississippi Code of 1972, is amended as follows:

 75-77-11. If any supplier shall fail or refuse to repurchase and pay the retailer for any inventory covered under the provisions of this chapter within sixty (60) days after shipment of such inventory, he shall be civilly liable for one hundred percent (100%) of the current net price of the inventory, plus any freight charges paid by the retailer, the retailer's attorney's fees, court costs and interest on the current net price computed at the legal interest rate from the sixty-first day after date of shipment.

SOURCE: 1997 Laws, Chapter 318, Sec. 8, SB2339, Effective July 1, 1997.