Current through P.L. 171-2024
Section 7.1-3-25-4.5 - Transfer of products meeting sales percentage threshold prohibited(a) Except as provided in subsection (b), a successor, upon acquiring products, shall:(1) reappoint the existing wholesaler for:(A) all acquired products; and(B) the territories covered by the existing wholesaler for the products; or(2) comply with this chapter to transfer the products to another wholesaler.(b) If the products acquired by a successor represent at least fifteen percent (15%) of an existing wholesaler's dollar sales in the twelve (12) months preceding the closing of the transaction in which the successor acquires the products, the successor: (1) shall reappoint the existing wholesaler for:(A) all acquired products; and(B) the territories covered by the existing wholesaler for the products; and(2) may not transfer the product to another wholesaler.As added by P.L. 11-2009, SEC.1.