15-12-3-3. “Current Net Price”
Sec. 3. As used in this chapter, “current net price” means: (1) the price listed by a wholesaler, manufacturer, or distributor of inventory in effect at the time a contract is terminated; minus (2) an applicable trade or cash discount. [Pre-2008 Recodification Citation: 15-7-7-3.] As added by P.L.2-2008, SEC.3.
15-12-3-4. “Farm or Industrial Machinery”
Sec. 4. (a) As used in this chapter, “farm or industrial machinery” means any of the following: (1) A farm implement. (2) A tractor. (3) Farm machinery. (4) Utility and industrial equipment. (5) Construction machinery, including a track and wheel tractor, a motor grader, and an excavator. (6) An attachment or repair part for a […]
15-12-3-5. “Inventory”
Sec. 5. As used in this chapter, “inventory” means farm or industrial machinery held by a retailer. [Pre-2008 Recodification Citation: 15-7-7-5.] As added by P.L.2-2008, SEC.3.
15-12-3-6. “Net Cost”
Sec. 6. As used in this chapter, “net cost” means: (1) the price a retailer paid to a wholesaler, manufacturer, or distributor for inventory; minus (2) any discounts, retainage, and prepaid freight or return freight. [Pre-2008 Recodification Citation: 15-7-7-6.] As added by P.L.2-2008, SEC.3.
15-12-3-7. “Person”
Sec. 7. As used in this chapter, “person” means an individual, a corporation, a limited liability company, a partnership, a trust, or an unincorporated association. [Pre-2008 Recodification Citation: 15-7-7-7.] As added by P.L.2-2008, SEC.3.
15-12-3-8. “Retailer”
Sec. 8. (a) As used in this chapter, “retailer” means a person engaged in the business of selling, at retail, farm or industrial machinery. (b) The term does not include a retail seller of: (1) petroleum products, if the sale of petroleum products is the primary purpose of the retail seller’s business; (2) motor vehicles […]
15-12-3-9. “Retainage”
Sec. 9. As used in this chapter, “retainage” refers to various purchase, invoice, and other discounts held by the supplier and due the retailer at a later time. [Pre-2008 Recodification Citation: 15-7-7-9.] As added by P.L.2-2008, SEC.3.
15-12-3-10. Repurchase of Inventory; Exceptions
Sec. 10. (a) Upon the termination of a written or an unwritten contract between a retailer and a wholesaler, manufacturer, or distributor of farm or industrial machinery under which the retailer had agreed to maintain an inventory, the wholesaler, manufacturer, or distributor shall repurchase the inventory of the retailer under section 11 of this chapter. […]
15-12-3-11. Farm and Industrial Machinery Repurchased; Proof of Purchase
Sec. 11. (a) Except as provided in section 14 of this chapter, a wholesaler, manufacturer, or distributor shall repurchase farm or industrial machinery that: (1) the retailer previously purchased from the wholesaler, manufacturer, or distributor; and (2) the retailer held as inventory on the date of the termination of the contract. (b) For purposes of […]
15-12-3-12. Repurchase Price; Packaging
Sec. 12. (a) The price for a repurchase under this chapter must equal the sum of: (1) one hundred percent (100%) of the net cost of all new, unsold, undamaged, and complete farm or industrial machinery (except repair parts); plus (2) one hundred percent (100%) of the current net price of all new, unused, and […]