Title 26, COMMERCIAL LAW

Sec. 4. The board, in coordination with the agency, shall develop educational information to be made available electronically to producers, grain buyers, and warehouse operators, explaining the following: (1) The purpose of the fund. (2) How the fund is operated. (3) An explanati…

Sec. 1. The following definitions apply throughout this chapter: (1) "Adequate service information" means facts sufficient to enable a service representative or independent service facility to repair a product, including detailed schematic diagrams, operational voltages, and part…

Sec. 2. A manufacturer who makes an express warranty in connection with the sale of an audio or visual entertainment product shall do the following: (1) Authorize a representative within a designated service area to provide any service or repair required under the terms of the wa…

Sec. 3. Whenever authorized service representatives or independent service facilities undertake to service or repair an audio or visual entertainment product, they shall: (1) provide services or make repairs on the product within forty-five (45) days of receipt of that product, r…

Sec. 4. A consumer may bring an action on his own behalf to recover damages resulting from a violation of this chapter. In addition to any other remedies available to the consumer, the court may: (1) order replacement of the audio or visual entertainment product, the cost of whic…

Sec. 5. (a) The attorney general may bring an action on behalf of the state to obtain an injunction to enjoin noncompliance with this chapter. In this action the court may: (1) order replacement of the audio or visual entertainment product, the cost of which is to be borne by the…

Sec. 6. (a) A person who knowingly violates this chapter commits a Class C infraction. Each violation of this chapter constitutes a separate infraction. (b) In addition to any other available legal remedy, a person who violates the terms of an injunction issued under section 5 of…

Sec. 7. An authorized service representative or independent service facility may bring an action on his own behalf to recover for a violation of this chapter, and, in addition to other remedies, may obtain damages in an amount equal to three (3) times the damages sustained due to…

Sec. 1. (a) The money in the fund: (1) is not available for any purpose other than the payment of claims approved by the board or refunds to producers who do not want to participate in the fund; and (2) may not be transferred to any other fund. (b) The limiting and nontransferabi…

Sec. 3. (a) Except as provided in subsection (b), within ninety (90) days of the board's approval of a claim, the board shall compensate from the fund, in an amount described in section 4 of this chapter and in the manner described in subsection (c), a claimant who has incurred a…

Sec. 4. (a) A claimant who has incurred a storage loss due to the revocation of a warehouse operator license under IC 26-3-7 is entitled to be compensated by the board from the fund for one hundred percent (100%) of the storage loss incurred less all credits and offsets and any p…

Sec. 6. A claimant compensated under this chapter is required to subrogate to the board or corporation all the claimant's rights to collect on a bond issued under IC 26-3-7 or the United States Warehouse Act and all the claimant's rights to any other compensation arising from the…

Sec. 7. The board shall deny the payment of compensation under this chapter to a claimant who has incurred a financial loss or storage loss due to the revocation of a license of a warehouse or grain buyer when the board determines the existence of any of the following: (1) The cl…

Sec. 8. After the agency has determined that a grain buyer or warehouse has defaulted payment or had its license revoked, the board shall have the following duties: (1) Determine the valid claims and the amount of such claims to be paid to claimants for financial losses that were…

Sec. 101. This chapter may be cited as Uniform Commercial Code ) Documents of Title. Formerly: Acts 1963, c.317, s.7-101. As amended by P.L.152-1986, SEC.244; P.L.143-2007, SEC.24.

Sec. 102. (a) In this chapter unless the context otherwise requires: (1) "Bailee" means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them. (2) "Carrier" means a person that issues a bill…

Sec. 103. (a) This chapter is subject to any treaty or statute of the United States or regulatory statute of this state to the extent the treaty, statute, or regulatory statute applies. (b) This chapter does not modify or repeal any law prescribing the form or content of a docume…

and other document of title Sec. 104. (a) Except as otherwise provided in subsection (c), a document of title is negotiable if by its terms the goods are to be delivered to bearer or to the order of a named person. (b) A document of title other than one described in subsection (a…

Sec. 105. (a) Upon request of a person entitled under an electronic document of title, the issuer of the electronic document may issue a tangible document of title as a substitute for the electronic document if: (1) the person entitled under the electronic document surrenders con…

Sec. 106. (a) A person has control of an electronic document of title if a system employed for evidencing the transfer of interests in the electronic document reliably establishes that person as the person to which the electronic document was issued or transferred. (b) A system s…

Sec. 201. (a) A warehouse receipt may be issued by any warehouse. (b) If goods, including distilled spirits and agricultural commodities, are stored under a statute requiring a bond against withdrawal or a license for the issuance of receipts in the nature of warehouse receipts, …

Sec. 202. (a) A warehouse receipt need not be in any particular form. (b) Unless a warehouse receipt provides for each of the following, the warehouse is liable for damages caused to a person injured by its omission: (1) a statement of the location of the warehouse facility where…

Sec. 203. A party to or purchaser for value in good faith of a document of title, other than a bill of lading, that relies upon the description of the goods in the document may recover from the issuer damages caused by the nonreceipt or misdescription of the goods, except to the …

Sec. 204. (a) A warehouse is liable for damages for loss of or injury to the goods caused by its failure to exercise care with regard to the goods that a reasonably careful person would exercise under similar circumstances. Unless otherwise agreed, the warehouse is not liable for…

Sec. 205. A buyer in the ordinary course of business of fungible goods sold and delivered by a warehouse that is also in the business of buying and selling such goods takes the goods free of any claim under a warehouse receipt even if the receipt is negotiable and has been duly n…

Sec. 206. (a) A warehouse, by giving notice to the person on whose account the goods are held and any other person known to claim an interest in the goods, may require payment of any charges and removal of the goods from the warehouse at the termination of the period of storage f…

Sec. 207. (a) Unless the warehouse receipt otherwise provides, a warehouse shall keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods. However, different lots of fungible goods may be commingled. (b) If different …

Sec. 208. If a blank in a negotiable tangible warehouse receipt has been filled in without authority, a good faith purchaser for value and without notice of the lack of authority may treat the insertion as authorized. Any other unauthorized alteration leaves any tangible or elect…

Sec. 209. (a) A warehouse has a lien against the bailor on the goods covered by a warehouse receipt or storage agreement or on the proceeds thereof in its possession for charges for storage or transportation, including demurrage and terminal charges, insurance, labor, or other ch…

Sec. 210. (a) Except as otherwise provided in subsection (b), a warehouse's lien may be enforced by public or private sale of the goods, in bulk or in packages, at any time or place and on any terms that are commercially reasonable, after notifying all persons known to claim an i…

Sec. 301. (a) A consignee of a nonnegotiable bill of lading that has given value in good faith, or a holder to which a negotiable bill has been duly negotiated, relying upon the description of the goods in the bill or upon the date shown in the bill, may recover from the issuer d…

Sec. 302. (a) The issuer of a through bill of lading or other document of title embodying an undertaking to be performed in part by a person acting as its agent or by a performing carrier is liable to any person entitled to recover on the bill or other document for any breach by …

Sec. 303. (a) Unless the bill of lading otherwise provides, a carrier may deliver the goods to a person or destination other than that stated in the bill or may otherwise dispose of the goods, without liability for misdelivery, on instructions from: (1) the holder of a negotiable…

Sec. 304. (a) Except as customary in international transportation, a tangible bill of lading may not be issued in a set of parts. The issuer is liable for damages caused by violation of this subsection. (b) If a tangible bill of lading is lawfully issued in a set of parts, each o…

Sec. 305. (a) Instead of issuing a bill of lading to the consignor at the place of shipment, a carrier may at the request of the consignor procure the bill to be issued at a destination or at any other place designated in the request. (b) Upon request of any person entitled as ag…

Sec. 306. An unauthorized alteration or filling in of a blank in a bill of lading leaves the bill enforceable according to its original tenor. Formerly: Acts 1963, c.317, s.7-306.

Sec. 307. (a) A carrier has a lien on the goods covered by a bill of lading or on the proceeds from the goods for charges after the date of the carrier's receipt of the goods for storage or transportation, including demurrage and terminal charges, and for expenses necessary for p…

Sec. 308. (a) A carrier's lien on goods may be enforced by public or private sale of the goods, in bulk or in packages, at any time or place, and on any terms that are commercially reasonable, after notifying all persons known to claim an interest in the goods. The notification m…

Sec. 309. (a) A carrier that issues a bill of lading, whether negotiable or nonnegotiable, shall exercise the degree of care in relation to the goods which a reasonably careful person would exercise under similar circumstances. This subsection does not affect any law, regulation,…

Sec. 401. The obligations imposed by this chapter on an issuer apply to a document of title even if: (1) the document does not comply with the requirements of this chapter or of any other statute, rule, or regulation regarding its issuance, form, or content; (2) the issuer violat…

Sec. 402. A duplicate or any other document of title purporting to cover goods already represented by an outstanding document of the same issuer does not confer any right in the goods, except as provided in the case of tangible bills of lading in a set of parts, overissue of docu…

Sec. 403. (a) A bailee shall deliver the goods to a person entitled under a document of title if the person complies with subsections (b) and (c), unless and to the extent that the bailee establishes any of the following: (1) Delivery of the goods to a person whose receipt was ri…

Sec. 404. A bailee that in good faith has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or pursuant to this chapter is not liable for the goods even if: (1) the person from which the bailee received the goods did not…

Sec. 501. (a) The following rules apply to a negotiable tangible document of title: (1) If the document's original terms run to the order of a named person, the document is negotiated by the named person's endorsement and delivery. After the named person's endorsement in blank or…

Sec. 502. (a) Subject to sections 205 and 503 of this chapter, a holder to which a negotiable document of title has been duly negotiated acquires thereby: (1) title to the document; (2) title to the goods; (3) all rights accruing under the law of agency or estoppel, including rig…

Sec. 503. (a) A document of title confers no right in goods against a person that before issuance of the document had a legal interest or a perfected security interest in the goods and that did not: (1) deliver or entrust the goods or any document of title covering the goods to t…