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 […]
15-12-3-13. Title to Inventory
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.
15-12-3-14. Repurchase Exceptions
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) […]
15-12-3-15. Civil Liability
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 […]
15-12-3-16. Repurchase After Death, Incapacity, or Insolvency
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 […]
15-12-3-1. Application of Chapter
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 […]
15-12-3-17. Inspection of Inventory
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.