Sec. 1. (a) This chapter applies to the following:
(1) Contracts that may be terminated or altered at will.
(2) Contracts formed or renewed after June 30, 1989.
(b) This chapter may not be construed to impair the obligation of a contract in violation of Article 1, Section 24 of the Constitution of the State of Indiana.
(c) This chapter does not affect a security interest that a wholesaler, manufacturer, or distributor may have in a retailer's inventory.
[Pre-2008 Recodification Citations: subsection (a) formerly 15-7-7-1(a); subsection (b) formerly 15-7-7-1(b); subsection (c) formerly 15-7-7-18.]
As added by P.L.2-2008, SEC.3.