§ 15-12-3-10 — Repurchase of inventory; exceptions

Indiana § 15-12-3-10

• Jurisdiction: Indiana
• Art. 12: AGRICULTURAL ASSISTANCE
• Ch. 3: Repurchase of Farm or Industrial Machinery Inventory

Text

(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.
(b) If the retailer has an outstanding debt to the wholesaler,
manufacturer, or distributor, the amount to be paid in repurchase of the
inventory may be credited to the retailer's account.
(c) The requirement under subsection (a) that a wholesaler,
manufacturer, or distributor repurchase inventory does not apply when
a contract is terminated based upon:
(1) the conviction of the retailer (or a principal owner or operator
of the retailer) of an offense involving theft, dishonesty, or false
statement; or
(2) a fraudulent misrepresentation by the retailer to the
wholesaler, manufacturer, or distributor that is material to the
contract.
[Pre-2008 Recodification Citation: 15-7-7-10.]

Legislative History

As added by P.L.2-2008, SEC.3.