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SENATE BILL 751

45th legislature - STATE OF NEW MEXICO - first session, 2001

INTRODUCED BY

Rod Adair







AN ACT

RELATING TO DAMAGES IN CIVIL ACTIONS; LIMITING THE AMOUNT OF PUNITIVE DAMAGE AWARDS.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. LIMITATION ON AMOUNT OF PUNITIVE DAMAGES AWARD.--

A. In a civil action an award of punitive damages shall not exceed the lesser of:

(1) three times the amount of compensatory damages awarded in the action; or

(2) seven hundred fifty thousand dollars ($750,000).

B. If a jury awards punitive damages that exceed the maximum amount stated in Subsection A of this section, the court shall reduce the award to the maximum stated.