Indiana § 15-12-3-16 Repurchase after death, incapacity, or insolvency

Indiana Statutes

§ 15-12-3-16 — Repurchase after death, incapacity, or insolvency

Indiana·Art. 12 AGRICULTURAL ASSISTANCE·Ch. 3 Repurchase of Farm or Industrial Machinery Inventory

(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 retailer's heirs, personal representative, guardian, or receiver must exercise the right provided by this section not later than one hundred eighty (180) days after the retailer's death, incapacitation, or insolvency. However, this section does not require the repurchase of inventory if the heirs, personal representative, guardian, or receiver enters into a new contract with the wholesaler, manufacturer, or distributor. [Pre-2008 Recodificatio

Free access — add to your briefcase to read the full text and ask questions with AI

(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 retailer's heirs, personal representative, guardian, or receiver
must exercise the right provided by this section not later than one
hundred eighty (180) days after the retailer's death, incapacitation, or
insolvency. However, this section does not require the repurchase of
inventory if the heirs, personal representative, guardian, or receiver
enters into a new contract with the wholesaler, manufacturer, or
distributor.
[Pre-2008 Recodification Citation: 15-7-7-16.]

Indiana § 15-12-3-16 (Repurchase after death, incapacity, or insolvency) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.