By KRWG News
New Mexico – Gov. Bill Richardson has signed into law legislation aimed at protecting New Mexico automobile dealers if a car manufacturer terminates their franchise.
The governor chose a dealership in Albuquerque for the place where he would sign the legislation.
Richardson says the measure levels the playing field so out-of-state manufacturers can't control the fate of local dealers. He says those dealers play a significant role in New Mexico's economy and deserve protection.
It marked the second bill signing of the day. Richardson stopped in Clovis earlier to sign a bill that creates the Eastern New Mexico Water Utility Authority.
The new authority will be managed by a seven-member board. It will be able to establish rates and issue revenue bonds.
Copyright 2010 The Associated Press.