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Terms Used In Indiana Code 26-4-1-20

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
   Sec. 20. “Storage loss” means a loss to a storage depositor resulting from a failed warehouse operator not fully satisfying the warehouse operator’s storage obligation to the depositor, net of any outstanding charges against the grain.

As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.20.