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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 16. (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.
Cite this article: FindLaw.com - Indiana Code Title 15. Agriculture and Animals § 15-12-3-16 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-15-agriculture-and-animals/in-code-sect-15-12-3-16/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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