Indiana Code 15-12-3-11. Farm and industrial machinery repurchased; proof of purchase
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Sec. 11. (a) Except as provided in section 14 of this chapter, a wholesaler, manufacturer, or distributor shall repurchase farm or industrial machinery that:
(2) the retailer held as inventory on the date of the termination of the contract.
(1) the retailer previously purchased from the wholesaler, manufacturer, or distributor; and
Terms Used In Indiana Code 15-12-3-11
- Contract: A legal written agreement that becomes binding when signed.
- farm or industrial machinery: means any of the following:
Indiana Code 15-12-3-4
- inventory: means farm or industrial machinery held by a retailer. See Indiana Code 15-12-3-5
- retailer: means a person engaged in the business of selling, at retail, farm or industrial machinery. See Indiana Code 15-12-3-8
(b) For purposes of subsection (a)(1), proof of purchase from the supplier may include retail invoices from the supplier or a reference to an item in a current or past supplier price book.
[Pre-2008 Recodification Citation: 15-7-7-11.]
As added by P.L.2-2008, SEC.3.