Sec. 1. (a) This chapter applies to the following: (1) Contracts that may be terminated or altered at will. (2) Contracts formed or renewed after June 30, 1989. (b) This chapter may not be construed to impair the obligation of a contract in violation of Article 1, Section 24 of the Constitution of the State […]
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. […]
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 […]
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 […]
Sec. 13. Upon the payment to the retailer of the repurchase price under section 12 of this chapter, the title to the inventory passes to the wholesaler, manufacturer, or distributor. [Pre-2008 Recodification Citation: 15-7-7-13.] As added by P.L.2-2008, SEC.3.
Sec. 14. This chapter does not require the repurchase of any of the following: (1) A repair part that has a limited storage life or is subject to deterioration, including rubber items, gaskets, batteries, solvents, and lubricants. (2) A single repair part that is priced as a set of two (2) or more items. (3) […]
Sec. 15. A wholesaler, manufacturer, or distributor that fails or refuses to repurchase inventory as required under this chapter within ninety (90) days after the termination of a contract is liable in a civil action to the retailer for: (1) one hundred percent (100%) of the current net price of repair parts; (2) one hundred […]
Sec. 16. (a) If a retailer: (1) is an individual who dies or is incapacitated; or (2) is a corporation that becomes insolvent; the retailer’s heirs, personal representative, guardian, or receiver may compel a wholesaler, manufacturer, or distributor to repurchase the retailer’s inventory under this chapter as if the retailer’s contract had terminated. (b) The […]
Sec. 17. A retailer, wholesaler, manufacturer, or distributor may, in person or through a representative, inspect all inventory and certify its acceptability when it is packed for shipment to the wholesaler, manufacturer, or distributor for repurchase under this chapter. [Pre-2008 Recodification Citation: 15-7-7-17.] As added by P.L.2-2008, SEC.3.
Sec. 2. As used in this chapter, “all terrain vehicle” has the meaning set forth in IC 14-8-2-5.7. [Pre-2008 Recodification Citation: 15-7-7-2.] As added by P.L.2-2008, SEC.3. Amended by P.L.86-2010, SEC.9.
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.
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 […]
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.
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.
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.
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 […]
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.
