NM SB115

Expands the Franchise Termination Act to cover utility tractors, industrial tractors, construction equipment, and outdoor power equipment in addition to farm tractors and implements

Requires suppliers to provide 180 days' prior written notice before terminating a franchise, with dealers given 60 days to cure deficiencies; termination for failure to meet performance standards requires 2 years' notice

Prohibits franchise termination without "good cause," defined as specific failures including unauthorized ownership transfers, bankruptcy, felony convictions, business abandonment, or consistent failure to meet reasonable performance standards

Requires suppliers to approve or deny dealer business transfer requests within 60 days or the request is automatically approved; dealers' estates have 180 days after death to submit transfer requests

Voids any franchise agreement provisions that waive the Act's protections, apply another state's law, or require dealers to pay supplier attorney fees; allows dealers to recover damages and attorney fees for supplier violations