Indiana Code 7.1-3-25.5-3. When prior written notice not required before amendment or termination of distribution agreement with wholesaler
(1) A revocation or suspension of a beer wholesaler’s:
Terms Used In Indiana Code 7.1-3-25.5-3
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- 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.
(B) permit issued under this title;
for more than fourteen (14) days.
(2) The assignment or attempted assignment by a beer wholesaler for the benefit of creditors.
(3) Any:
(A) attempted transfer of:
(i) business assets;
(ii) voting stock; or
(iii) voting stock of any parent corporation;
of the wholesaler; or
(B) change in the beneficial ownership or control of any wholesaler entity;
without obtaining the prior approval of the primary source of supply.
(4) The institution of bankruptcy proceedings by or against a beer wholesaler.
(5) The dissolution or liquidation of a beer wholesaler.
(6) The insolvency of a beer wholesaler.
(7) Fraudulent conduct by a beer wholesaler in any dealings with a primary source of supply or the primary source of supply’s products, including an intentional sale of beer that an owner or senior manager of the wholesaler knows or should know is outside the primary source of supply’s established standards.
(b) A primary source of supply may cancel, terminate, or refuse to renew a distribution agreement with a beer wholesaler without providing prior notice of the cancellation, termination, or refusal, if the primary source of supply:
(1) acts:
(A) with good cause;
(B) in good faith; and
(C) with due regard of the equities of the beer wholesaler; and
(2) provides the beer wholesaler with written notice in accordance with section 5 of this chapter, not later than five (5) days after the date of the cancellation of, termination of, or refusal to renew the distribution agreement.
As added by P.L.139-2021, SEC.2.