LegalFix
Sign In

15-12-3-12. Repurchase price; packaging

IN Code § 15-12-3-12 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Sec. 12. (a) The price for a repurchase under this chapter must equal the sum of:

(1) one hundred percent (100%) of the net cost of all new, unsold, undamaged, and complete farm or industrial machinery (except repair parts); plus

(2) one hundred percent (100%) of the current net price of all new, unused, and undamaged repair parts.

(b) Except as provided in subsection (c), a wholesaler, manufacturer, or distributor that is required to repurchase farm or industrial machinery from a retailer under this chapter shall pay freight charges incurred in shipping the farm or industrial machinery (except repair parts) back to the wholesaler, manufacturer, or distributor.

(c) A retailer shall pay freight charges incurred in shipping repair parts that are repurchased under this chapter back to the wholesaler, manufacturer, or distributor.

(d) A retailer is responsible for the packaging of all farm or industrial machinery that is repurchased from the retailer under this chapter in preparation for the shipment of the machinery back to the wholesaler, manufacturer, or distributor.

[Pre-2008 Recodification Citation: 15-7-7-12.]

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

Previous Section
15-12-3-11. Farm and industrial machinery repurchased; proof of purchase
Next Section
15-12-3-13. Title to inventory