§ 15-12-3-14 — Repurchase exceptions

Indiana § 15-12-3-14

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

Text

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) Inventory for which the retailer is unable to furnish evidence,
satisfactory to the wholesaler, manufacturer, or distributor, of
clear title, free and clear of all claims, liens, and encumbrances.
(4) Inventory that the retailer desires to keep, provided the retailer
has a contractual right to keep the inventory.
(5) Inventory that is not in a new, unused, and undamaged
condition.
(6) Inventory that was ordered by the retailer on or after the date
of notification of termination of the contract.
(7) Inventory that was acquired by the retailer from a source other
than the wholesaler, manufacturer, or distributor.
(8) Complete farm and industrial machinery, except repair parts,
that was purchased at least thirty-six (36) months before the date
of termination.
(9) A repair part that is in a broken or damaged package, if the
package is necessary for the resale of the repair part to a customer
by a retailer.
[Pre-2008 Recodification Citation: 15-7-7-14.]

Legislative History

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