Indiana Code 7.1-3-25-5. Successor requirements
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Sec. 5. A successor:
(2) who:
(1) who acquires the rights to manufacture or distribute an existing product; and
Terms Used In Indiana Code 7.1-3-25-5
- existing wholesaler: means a beer wholesaler who distributes a product at the time a successor primary source of supply acquires rights to a product under section 5 of this chapter. See Indiana Code 7.1-3-25-1
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- product: means an existing brand of:
Indiana Code 7.1-3-25-2
- successor: means a primary source of supply that acquires rights to a product under section 5 of this chapter. See Indiana Code 7.1-3-25-3
(A) does not reappoint the existing wholesaler to distribute the product;
(B) reduces the existing wholesaler’s territory for the product; or
(C) offers to compensate the existing wholesaler in an amount less than the fair market value determined under section 7 of this chapter;
must comply with this chapter. A successor’s designee must also comply with this chapter.
As added by P.L.224-2005, SEC.19.