New Mexico governor signs indemnification clause law

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New Mexico Gov. Bill Richardson recently signed into law a bill that includes an amendment allowing motor vehicle lease and rental contracts to include broad form indemnification clauses. Senate Bill 69, as introduced earlier this year, would have prohibited all lease contracts from including such clauses.

The Truck Renting and Leasing Association, along with the New Mexico Trucking Association, worked to amend the bill to exempt motor vehicle lease contracts from the prohibitions in the legislation.