Sec. 2. (a) On and after July 28, 1972, no person shall engage in the business of timber buying in the state of Indiana without a registration certificate issued by the department. Application for Indiana registration to engage in the business of timber buying shall be filed with the department. Such application shall set forth the name of the applicant, its principal officers if the applicant is a corporation, its managers and members if the applicant is a limited liability company, or the partners if the applicant is a partnership, the location of any principal office or place of business of the applicant, the counties in this state from which the applicant proposes to engage in the business of timber buying and such additional information as the department by regulation may require.

     (b) The application shall set forth the aggregate dollar amount paid to timber growers for timber purchased in this state during the applicant’s last completed fiscal or calendar year. In the event the applicant has been engaged as a timber buyer for less than one (1) year, his application shall set forth the dollar amount paid to timber growers for the number of completed months during which the applicant has been so engaged. If the applicant has not been previously engaged in buying timber in this state, the application shall set forth the estimated aggregate dollar amount to be paid by the applicant to timber growers for timber to be purchased from them during the next succeeding year.

Terms Used In Indiana Code 25-36.5-1-2

  • Buying: means acquiring an interest in property by the payment of a price, value, or other consideration. See Indiana Code 25-36.5-1-1
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Department: means the department of natural resources. See Indiana Code 25-36.5-1-1
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means an individual, partnership, firm, association, business trust, limited liability company, or corporation. See Indiana Code 25-36.5-1-1
  • Timber: means trees, standing or felled, and logs which can be used for sawing or processing into lumber for building or structural purposes or for the manufacture of any article. See Indiana Code 25-36.5-1-1
  • Timber buyer: means a person engaged in the business of buying timber from timber growers for sawing into lumber, processing, or resale, but does not include a person who occasionally purchases timber for sawing or processing for his own use and not for resale. See Indiana Code 25-36.5-1-1
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (c) The registrations of any persons registered as timber buyers under any prior law in this state shall remain valid until the expiration date of that certificate, unless suspended or revoked. After the expiration of such registrations, all persons engaged in the business of timber buying must be registered under this chapter.

Formerly: Acts 1972, P.L.190, SEC.1. As amended by Acts 1982, P.L.154, SEC.128; P.L.8-1993, SEC.398.

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