Indiana Code
Title 26. Commercial Law
Article 1. Uniform Commercial Code

Chapter 1. General Provisions

26-1-1-0.2. Transactions Entered Into After July 1, 1964, and Before January 1, 1986; Status of Certain Perfected Security Interests - Sec. 0.2. A transaction validly entered into after July 1,...

26-1-1-0.3. Certain Security Interests Considered Perfected - Sec. 0.3. A security interest, for the perfection of which...

26-1-1-0.4. Status of Certain Financing Statements and Continuation Statements; Effectiveness of Certain Financing Statements; Requirement for New Financing Statements; Status of Records of Certain Real Estate Mortgages - Sec. 0.4. (a) A financing statement or continuation statement filed...

26-1-1-0.5. Status of Certain Security Interests; Conditions; Lapsing of Perfection; Filing of Financing Statements - Sec. 0.5. (a) If a security interest is perfected or...

26-1-1-0.6. Application of Article to Certain Questions of Priority; Exceptions - Sec. 0.6. Except as otherwise provided in sections 0.2, 0.3,...

26-1-1-101. Short Title; Application - Sec. 101. (1) IC 26-1 shall be known and may...

26-1-1-102. Purposes; Rules of Construction; Variation by Agreement - Sec. 102. (1) IC 26-1 shall be liberally construed and...

26-1-1-103. Supplementary General Principles of Law Applicable - Sec. 103. Unless displaced by the particular provisions of IC...

26-1-1-104. Construction Against Implicit Repeal - Sec. 104. IC 26-1 being a general statute intended as...

26-1-1-105. Repealed - Formerly: Acts 1963, c.317, s.1-105. As amended by P.L.93-1985, SEC.2;...

26-1-1-106. Remedies to Be Liberally Administered - Sec. 106. (1) The remedies provided by IC 26-1 shall...

26-1-1-107. Waiver or Renunciation of Claim or Right After Breach - Sec. 107. Any claim or right arising out of an...

26-1-1-108. Severability - Sec. 108. The provisions of IC 26-1 are severable in...

26-1-1-108.1. Powers of Secretary of State; Filing; Acceptance of Payment for Fees - Sec. 108.1. (a) The secretary of state may provide that...

26-1-1-108.2. Effect on Electronic Signatures in Global and National Commerce Act - Sec. 108.2. This article modifies, limits, and supersedes the Electronic...

26-1-1-109. Repealed - Formerly: Acts 1963, c.317, s.1-109. Repealed by P.L.16-1983, SEC.23(a).

26-1-1-201. General Definitions - Sec. 201. Subject to additional definitions contained in IC 26-1-2...

26-1-1-202. Prima Facie Evidence by Third Party Documents - Sec. 202. A document in due form purporting to be...

26-1-1-203. Obligation of Good Faith - Sec. 203. Every contract or duty within IC 26-1 imposes...

26-1-1-204. Time; Reasonable Time; "Seasonably" - Sec. 204. (1) Whenever IC 26-1 requires any action to...

26-1-1-205. Course of Dealing, Course of Performance, and Usage of Trade - Sec. 205. (1) A course of dealing is a sequence...

26-1-1-206. Statute of Frauds for Kinds of Personal Property Not Otherwise Covered - Sec. 206. (1) Except in the cases described in subsection...

26-1-1-207. Performance or Acceptance Under Reservation of Rights - Sec. 207. (1) A party who, with explicit reservation of...

26-1-1-208. Option to Accelerate at Will - Sec. 208. A term providing that one party or his...

26-1-1-301. Choice of Law - Sec. 301. (1) Except as otherwise provided in this section,...

26-1-1-302. Subordination - Sec. 302. (1) An obligation may be issued as subordinated...

Chapter 1.5. Ucc Forms

26-1-1.5-1. Format for Filing - Sec. 1. A format described in IC 26-1-9.1-521 may be...

26-1-1.5-2. Repealed - As added by P.L.57-2000, SEC.14. Repealed by P.L.54-2011, SEC.28.

Chapter 2. Sales

26-1-2-101. Short Title - Sec. 101. IC 26-1-2 shall be known and may be...

26-1-2-102. Scope; Certain Security and Other Transactions Excluded From This Chapter - Sec. 102. Unless the context otherwise requires, IC 26-1-2 applies...

26-1-2-103. Definitions and Index of Definitions - Sec. 103. (1) In IC 26-1-2, unless the context otherwise...

26-1-2-104. "Merchant"; "Between Merchants"; "Financing Agency" - Sec. 104. (1) "Merchant" means a person who deals in...

26-1-2-105. Transferability; "Goods"; "Future" Goods; "Lot"; "Commercial Unit" - Sec. 105. (1) "Goods" means all things (including specially manufactured...

26-1-2-106. "Contract"; "Agreement"; "Contract for Sale"; "Sale"; "Present Sale"; "Conforming" to Contract; "Termination"; "Cancellation" - Sec. 106. (1) In IC 26-1-2, unless the context otherwise...

26-1-2-107. Goods to Be Severed From Realty; Recording - Sec. 107. (1) A contract for the sale of minerals...

26-1-2-201. Formal Requirements; Statute of Frauds - Sec. 201. (1) Except as otherwise provided in this section,...

26-1-2-202. Final Written Expression; Parol or Extrinsic Evidence - Sec. 202. Terms with respect to which the confirmatory memoranda...

26-1-2-203. Seals Inoperative - Sec. 203. The affixing of a seal to a writing...

26-1-2-204. Formation in General - Sec. 204. (1) A contract for sale of goods may...

26-1-2-205. Firm Offers - Sec. 205. An offer by a merchant to buy or...

26-1-2-206. Offer and Acceptance in Formation of Contract - Sec. 206. (1) Unless otherwise unambiguously indicated by the language...

26-1-2-207. Additional Terms in Acceptance or Confirmation - Sec. 207. (1) A definite and seasonable expression of acceptance...

26-1-2-208. Repealed - Formerly: Acts 1963, c.317, s.2-208. As amended by P.L.152-1986, SEC.127....

26-1-2-209. Modification, Rescission, and Waiver - Sec. 209. (1) An agreement modifying a contract within IC...

26-1-2-210. Delegation of Performance; Assignment of Rights - Sec. 210. (1) A party may perform his duty through...

26-1-2-301. General Obligations of Parties - Sec. 301. The obligation of the seller is to transfer...

26-1-2-302. Unconscionable Contract or Clause - Sec. 302. (1) If the court as a matter of...

26-1-2-303. Allocation or Division of Risks - Sec. 303. Where IC 26-1-2 allocates a risk or a...

26-1-2-304. Price Payable in Money, Goods, Realty, or Otherwise - Sec. 304. (1) The price can be made payable in...

26-1-2-305. Open Price Term - Sec. 305. (1) The parties if they so intend can...

26-1-2-306. Output, Requirements, and Exclusive Dealings - Sec. 306. (1) A term which measures the quantity by...

26-1-2-307. Delivery in Single Lot or Several Lots - Sec. 307. Unless otherwise agreed all goods called for by...

26-1-2-308. Absence of Specified Place for Delivery - Sec. 308. Unless otherwise agreed: (a) the place for delivery...

26-1-2-309. Absence of Specific Time Provisions; Notice of Termination - Sec. 309. (1) The time for shipment or delivery or...

26-1-2-310. Open Time for Payment or Running of Credit; Authority to Ship Under Reservation - Sec. 310. Unless otherwise agreed: (a) payment is due at...

26-1-2-311. Options and Cooperation Respecting Performance - Sec. 311. (1) An agreement for sale which is otherwise...

26-1-2-312. Warranty of Title and Against Infringement; Buyer's Obligation Against Infringement - Sec. 312. (1) Subject to subsection (2) there is in...

26-1-2-313. Express Warranties by Affirmation, Promise, Description, and Sample - Sec. 313. (1) Express warranties by the seller are created...

26-1-2-314. Implied Warranty; Merchantability; Usage of Trade - Sec. 314. (1) Unless excluded or modified (IC 26-1-2-316), a...

26-1-2-315. Implied Warranty; Fitness for Particular Purpose - Sec. 315. Where the seller at the time of contracting...

26-1-2-316. Exclusion or Modification of Warranties - Sec. 316. (1) Words or conduct relevant to the creation...

26-1-2-317. Cumulation and Conflict of Warranties Express or Implied - Sec. 317. Warranties whether express or implied shall be construed...

26-1-2-318. Third Party Beneficiaries of Warranties Express or Implied - Sec. 318. A seller's warranty whether express or implied extends...

26-1-2-319. f.o.b. and f.a.s. Terms - Sec. 319. (1) Unless otherwise agreed, the term F.O.B. (which...

26-1-2-320. c.i.f. and c.&f. Terms - Sec. 320. (1) The term C.I.F. means that the price...

26-1-2-321. c.i.f. or c.&f.; "Net Landed Weights"; Payment on Arrival; Warranty of Condition on Arrival - Sec. 321. Under a contract containing a term C.I.F. or...

26-1-2-322. Delivery "Ex-Ship" - Sec. 322. (1) Unless otherwise agreed a term for delivery...

26-1-2-323. Form of Bill of Lading Required in Overseas Shipment; "Overseas" - Sec. 323. (1) Where the contract contemplates overseas shipment and...

26-1-2-324. "No Arrival, No Sale" - Sec. 324. Under a term "no arrival, no sale" or...

26-1-2-325. "Letter of Credit"; "Confirmed Credit" - Sec. 325. (1) Failure of the buyer seasonably to furnish...

26-1-2-326. Sale on Approval and Sale or Return - Sec. 326. (1) Unless otherwise agreed, if delivered goods may...

26-1-2-327. Special Incidents of Sale on Approval and Sale or Return - Sec. 327. (1) Under a sale on approval unless otherwise...

26-1-2-328. Sale by Auction - Sec. 328. (1) In a sale by auction if goods...

26-1-2-401. Passing of Title; Reservation of Security; Limited Application of This Section - Sec. 401. Each provision of IC 26-1-2 with regard to...

26-1-2-402. Rights of Seller's Creditors Against Sold Goods - Sec. 402. (1) Except as provided in subsections (2) and...

26-1-2-403. Power to Transfer; Good Faith Purchase of Goods; "Entrusting" - Sec. 403. (1) A purchaser of goods acquires all title...

26-1-2-501. Insurable Interest in Goods; Manner of Identification of Goods - Sec. 501. (1) The buyer obtains a special property and...

26-1-2-502. Buyer's Right to Goods on Seller's Repudiation, Failure to Deliver, or Insolvency - Sec. 502. (1) Subject to subsections (2) and (3) and...

26-1-2-503. Manner of Seller's Tender of Delivery - Sec. 503. (1) Tender of delivery requires that the seller...

26-1-2-504. Shipment by Seller - Sec. 504. Where the seller is required or authorized to...

26-1-2-505. Seller's Shipment Under Reservation - Sec. 505. (1) Where the seller has identified goods to...

26-1-2-506. Rights of Financing Agency - Sec. 506. (1) A financing agency by paying or purchasing...

26-1-2-507. Effect of Seller's Tender; Delivery on Condition - Sec. 507. (1) Tender of delivery is a condition to...

26-1-2-508. Cure by Seller of Improper Tender or Delivery; Replacement - Sec. 508. (1) Where any tender or delivery by the...

26-1-2-509. Risk of Loss in the Absence of Breach - Sec. 509. (1) Where the contract requires or authorizes the...

26-1-2-510. Effect of Breach on Risk of Loss - Sec. 510. (1) Where a tender or delivery of goods...

26-1-2-511. Tender of Payment by Buyer; Payment by Check - Sec. 511. (1) Unless otherwise agreed, tender of payment is...

26-1-2-512. Payment by Buyer Before Inspection - Sec. 512. (1) Where the contract requires payment before inspection,...

26-1-2-513. Buyer's Right of Inspection of Goods - Sec. 513. (1) Unless otherwise agreed and subject to subsection...

26-1-2-514. When Documents Deliverable on Acceptance; When on Payment - Sec. 514. Unless otherwise agreed documents against which a draft...

26-1-2-515. Preserving Evidence of Goods in Dispute - Sec. 515. In furtherance of the adjustment of any claim...

26-1-2-601. Buyer's Rights on Improper Delivery - Sec. 601. Subject to the provisions of IC 26-1-2-612 on...

26-1-2-602. Manner and Effect of Rightful Rejection - Sec. 602. (1) Rejection of goods must be within a...

26-1-2-603. Merchant Buyer's Duties as to Rightfully Rejected Goods - Sec. 603. (1) Subject to any security interest in the...

26-1-2-604. Buyer's Options as to Salvage of Rightfully Rejected Goods - Sec. 604. Subject to the provisions of IC 26-1-2-603 on...

26-1-2-605. Waiver of Buyer's Objections by Failure to Particularize - Sec. 605. (1) The buyer's failure to state in connection...

26-1-2-606. What Constitutes Acceptance of Goods - Sec. 606. (1) Acceptance of goods occurs when the buyer:...

26-1-2-607. Effect of Acceptance; Notice of Breach; Burden of Establishing Breach After Acceptance; Notice of Claim or Litigation to Person Answerable Over - Sec. 607. (1) The buyer must pay at the contract...

26-1-2-608. Revocation of Acceptance in Whole or in Part - Sec. 608. (1) The buyer may revoke his acceptance of...

26-1-2-609. Right to Adequate Assurance of Performance - Sec. 609. (1) A contract for sale imposes an obligation...

26-1-2-610. Anticipatory Repudiation - Sec. 610. When either party repudiates the contract with respect...

26-1-2-611. Retraction of Anticipatory Repudiation - Sec. 611. (1) Until the repudiating party's next performance is...

26-1-2-612. "Instalment Contract"; Breach - Sec. 612. (1) An "instalment contract" is one which requires...

26-1-2-613. Casualty to Identified Goods - Sec. 613. Where the contract requires for its performance goods...

26-1-2-614. Substituted Performance - Sec. 614. (1) Where without fault of either party the...

26-1-2-615. Excuse by Failure of Presupposed Conditions - Sec. 615. Except so far as a seller may have...

26-1-2-616. Procedure on Notice Claiming Excuse - Sec. 616. (1) Where the buyer receives notification of a...

26-1-2-701. Remedies for Breach of Collateral Contracts Not Impaired - Sec. 701. Remedies for breach of any obligation or promise...

26-1-2-702. Seller's Remedies on Discovery of Buyer's Insolvency - Sec. 702. (1) Where the seller discovers the buyer to...

26-1-2-703. Seller's Remedies in General - Sec. 703. Where the buyer wrongfully rejects or revokes acceptance...

26-1-2-704. Seller's Right to Identify Goods to the Contract Notwithstanding Breach or to Salvage Unfinished Goods - Sec. 704. (1) An aggrieved seller under IC 26-1-2-703 may:...

26-1-2-705. Seller's Stoppage of Delivery in Transit or Otherwise - Sec. 705. (1) The seller may stop delivery of goods...

26-1-2-706. Seller's Resale, Including Contract for Resale - Sec. 706. (1) Under the conditions stated in IC 26-1-2-703...

26-1-2-707. "Person in the Position of a Seller" - Sec. 707. (1) A "person in the position of a...

26-1-2-708. Seller's Damages for Nonacceptance or Repudiation - Sec. 708. (1) Subject to subsection (2) and to the...

26-1-2-709. Action for the Price - Sec. 709. (1) When the buyer fails to pay the...

26-1-2-710. Seller's Incidental Damages - Sec. 710. Incidental damages to an aggrieved seller include any...

26-1-2-711. Buyer's Remedies in General; Buyer's Security Interest in Rejected Goods - Sec. 711. (1) Where the seller fails to make delivery...

26-1-2-712. "Cover"; Buyer's Procurement of Substitute Goods - Sec. 712. (1) After a breach within IC 26-1-2-711, the...

26-1-2-713. Buyer's Damages for Nondelivery or Repudiation - Sec. 713. (1) Subject to the provisions of IC 26-1-2-723...

26-1-2-714. Buyer's Damages for Breach in Regard to Accepted Goods - Sec. 714. (1) Where the buyer has accepted goods and...

26-1-2-715. Buyer's Incidental and Consequential Damages - Sec. 715. (1) Incidental damages resulting from the seller's breach...

26-1-2-716. Buyer's Right to Specific Performance or Replevin - Sec. 716. (1) Specific performance may be decreed where the...

26-1-2-717. Deduction of Damages From the Price - Sec. 717. The buyer on notifying the seller of his...

26-1-2-718. Liquidation or Limitation of Damages; Deposits - Sec. 718. (1) Damages for breach by either party may...

26-1-2-719. Contractual Modification or Limitation of Remedy - Sec. 719. (1) Subject to the provisions of subsections (2)...

26-1-2-720. Effect of "Cancellation" or "Rescission" on Claims for Antecedent Breach - Sec. 720. Unless the contrary intention clearly appears, expressions of...

26-1-2-721. Remedies for Fraud - Sec. 721. Remedies for material misrepresentation or fraud include all...

26-1-2-722. Who Can Sue Third Parties for Injury to Goods - Sec. 722. Where a third party so deals with goods...

26-1-2-723. Proof of Market Price; Time and Place - Sec. 723. (1) If an action based on anticipatory repudiation...

26-1-2-724. Admissibility of Market Quotations - Sec. 724. Whenever the prevailing price or value of any...

26-1-2-725. Statute of Limitations in Contracts for Sale - Sec. 725. (1) An action for breach of any contract...

Chapter 2.1. Leases

26-1-2.1-101. Short Title - Sec. 101. IC 26-1-2.1 shall be known and may be...

26-1-2.1-102. Scope - Sec. 102. IC 26-1-2.1 applies to any transaction, regardless of...

26-1-2.1-103. Definitions and Index of Definitions - Sec. 103. (1) Unless the context otherwise requires, in IC...

26-1-2.1-104. Leases Subject to Other Statutes - Sec. 104. (1) A lease, although subject to IC 26-1-2.1,...

26-1-2.1-105. Territorial Application of Article to Goods Covered by Certificate of Title - Sec. 105. Subject to the provisions of IC 26-1-2.1-304(3) and...

26-1-2.1-106. Limitation on Power of Parties to Consumer Lease to Choose Applicable Law and Judicial Forum - Sec. 106. (1) If the law chosen by the parties...

26-1-2.1-107. Waiver or Renunciation of Claim or Right After Default - Sec. 107. Any claim or right arising out of an...

26-1-2.1-108. Unconscionability - Sec. 108. (1) If the court as a matter of...

26-1-2.1-109. Option to Accelerate at Will - Sec. 109. (1) A term providing that one party or...

26-1-2.1-201. Statute of Frauds - Sec. 201. (1) A lease contract is not enforceable by...

26-1-2.1-202. Final Written Expression; Parol or Extrinsic Evidence - Sec. 202. Terms with respect to which the confirmatory memoranda...

26-1-2.1-203. Seals Inoperative - Sec. 203. The affixing of a seal to a writing...

26-1-2.1-204. Formation in General - Sec. 204. (1) A lease contract may be made in...

26-1-2.1-205. Firm Offers - Sec. 205. An offer by a merchant to lease goods...

26-1-2.1-206. Offer and Acceptance in Formation of Lease Contract - Sec. 206. (1) Unless otherwise unambiguously indicated by the language...

26-1-2.1-207. Repealed - As added by P.L.189-1991, SEC.3. Repealed by P.L.143-2007, SEC.78.

26-1-2.1-208. Modification, Rescission, and Waiver - Sec. 208. (1) An agreement modifying a lease contract needs...

26-1-2.1-209. Lessee Under Finance Lease as Beneficiary of Supply Contract - Sec. 209. (1) The benefit of a supplier's promises to...

26-1-2.1-210. Express Warranties - Sec. 210. (1) Express warranties by the lessor are created...

26-1-2.1-211. Warranties Against Interference and Against Infringement; Lessee's Obligation Against Infringement - Sec. 211. (1) There is in a lease contract a...

26-1-2.1-212. Implied Warranty of Merchantability - Sec. 212. (1) Except in a finance lease, a warranty...

26-1-2.1-213. Implied Warranty of Fitness for Particular Purpose - Sec. 213. Except in a finance lease, if the lessor...

26-1-2.1-214. Exclusion or Modification of Warranties - Sec. 214. (1) Words or conduct relevant to the creation...

26-1-2.1-215. Cumulation and Conflict of Warranties Express or Implied - Sec. 215. Warranties, whether express or implied, must be construed...

26-1-2.1-216. Third-Party Beneficiaries of Express and Implied Warranties - Sec. 216. A warranty to or for the benefit of...

26-1-2.1-217. Identification - Sec. 217. Identification of goods as goods to which a...

26-1-2.1-218. Insurance and Proceeds - Sec. 218. (1) A lessee obtains an insurable interest when...

26-1-2.1-219. Risk of Loss - Sec. 219. (1) Except in the case of a finance...

26-1-2.1-220. Effect of Default on Risk of Loss - Sec. 220. (1) Where risk of loss is to pass...

26-1-2.1-221. Casualty to Identified Goods - Sec. 221. If a lease contract requires goods identified when...

26-1-2.1-301. Enforceability of Lease Contract - Sec. 301. Except as otherwise provided in IC 26-1-2.1, a...

26-1-2.1-302. Title to and Possession of Goods - Sec. 302. Except as otherwise provided in IC 26-1-2.1, each...

26-1-2.1-303. "Creation of a Security Interest"; Alienability of Party's Interest Under Lease Contract or of Lessor's Residual Interest in Goods; Delegation of Performance; Assignment of Rights - Sec. 303. (1) As used in this section, "creation of...

26-1-2.1-304. Subsequent Lease of Goods by Lessor - Sec. 304. (1) Subject to IC 26-1-2.1-303, a subsequent lessee...

26-1-2.1-305. Sale or Sublease of Goods by Lessee - Sec. 305. (1) Subject to the provisions of IC 26-1-2.1-303,...

26-1-2.1-306. Priority of Certain Liens Arising by Operation of Law - Sec. 306. If a person in the ordinary course of...

26-1-2.1-307. Priority of Liens Related to Lease Contract - Sec. 307. (1) Except as otherwise provided in IC 26-1-2.1-306,...

26-1-2.1-308. Special Rights of Creditors - Sec. 308. (1) A creditor of a lessor in possession...

26-1-2.1-309. Lessor's and Lessee's Rights When Goods Become Fixtures - Sec. 309. (1) In this section: (a) goods are "fixtures"...

26-1-2.1-310. Lessor's and Lessee's Rights When Goods Become Accessions - Sec. 310. (1) Goods are "accessions" when they are installed...

26-1-2.1-311. Subordination by Agreement; Persons Entitled to Priority - Sec. 311. Nothing in IC 26-1-2.1 prevents subordination by agreement...

26-1-2.1-401. Insecurity; Adequate Assurance of Performance - Sec. 401. (1) A lease contract imposes an obligation on...

26-1-2.1-402. Anticipatory Repudiation - Sec. 402. If either party repudiates a lease contract with...

26-1-2.1-403. Retraction of Anticipatory Repudiation - Sec. 403. (1) Until the repudiating party's next performance is...

26-1-2.1-404. Substituted Performance - Sec. 404. (1) If without fault of the lessee, the...

26-1-2.1-405. Excused Performance - Sec. 405. Subject to IC 26-1-2.1-404 on substituted performance, the...

26-1-2.1-406. Procedure on Excused Performance - Sec. 406. (1) If the lessee receives notification of a...

26-1-2.1-407. Irrevocable Promises; Finance Leases - Sec. 407. (1) In the case of a finance lease...

26-1-2.1-501. Default; Procedure - Sec. 501. (1) Whether the lessor or the lessee is...

26-1-2.1-502. Notice After Default - Sec. 502. Except as otherwise provided in IC 26-1-2.1 or...

26-1-2.1-503. Modification or Impairment of Rights and Remedies - Sec. 503. (1) Except as otherwise provided in IC 26-1-2.1,...

26-1-2.1-504. Liquidation of Damages - Sec. 504. (1) Damages payable by either party for default,...

26-1-2.1-505. Cancellation and Termination and Effect of Cancellation, Termination, Rescission, or Fraud on Rights and Remedies - Sec. 505. (1) On cancellation of the lease contract, all...

26-1-2.1-506. Statute of Limitations - Sec. 506. (1) An action for default under a lease...

26-1-2.1-507. Proof of Market Rent; Time and Place - Sec. 507. (1) Damages based on market rent (IC 26-1-2.1-519...

26-1-2.1-508. Lessee's Remedies - Sec. 508. (1) If a lessor fails to deliver the...

26-1-2.1-509. Lessee's Rights on Improper Delivery; Rightful Rejection - Sec. 509. (1) Subject to the provisions of IC 26-1-2.1-510...

26-1-2.1-510. Installment Lease Contracts; Rejection and Default - Sec. 510. (1) Under an installment lease contract a lessee...

26-1-2.1-511. Merchant Lessee's Duties as to Rightfully Rejected Goods - Sec. 511. (1) Subject to any security interest of a...

26-1-2.1-512. Lessee's Duties as to Rightfully Rejected Goods - Sec. 512. (1) Except as otherwise provided with respect to...

26-1-2.1-513. Cure by Lessor of Improper Tender or Delivery; Replacement - Sec. 513. (1) If any tender or delivery by the...

26-1-2.1-514. Waiver of Lessee's Objections - Sec. 514. (1) In rejecting goods, a lessee's failure to...

26-1-2.1-515. Acceptance of Goods - Sec. 515. (1) Acceptance of goods occurs after the lessee...

26-1-2.1-516. Effect of Acceptance of Goods; Notice of Default; Burden of Establishing - Sec. 516. (1) A lessee must pay rent for any...

26-1-2.1-517. Revocation of Acceptance of Goods - Sec. 517. (1) A lessee may revoke acceptance of a...

26-1-2.1-518. Cover; Substitute Goods - Sec. 518. (1) After a default by a lessor under...

26-1-2.1-519. Lessee's Damages for Nondelivery, Repudiation, Default, and Breach of Warranty in Regard to Accepted Goods - Sec. 519. (1) Except as otherwise provided with respect to...

26-1-2.1-520. Lessee's Incidental and Consequential Damages - Sec. 520. (1) Incidental damages resulting from a lessor's default...

26-1-2.1-521. Lessee's Right to Specific Performance or Replevin - Sec. 521. (1) Specific performance may be decreed if the...

26-1-2.1-522. Lessee's Right to Goods on Lessor's Insolvency - Sec. 522. (1) Subject to subsection (2) and even though...

26-1-2.1-523. Lessor's Remedies - Sec. 523. (1) If a lessee wrongfully rejects or revokes...

26-1-2.1-524. Lessor's Right to Identify Goods to Lease Contract - Sec. 524. (1) After default by the lessee under the...

26-1-2.1-525. Lessor's Right to Possession of Goods - Sec. 525. (1) If a lessor discovers the lessee to...

26-1-2.1-526. Lessor's Stoppage of Delivery - Sec. 526. (1) A lessor may stop delivery of goods...

26-1-2.1-527. Lessor's Rights to Dispose of Goods - Sec. 527. (1) After a default by a lessee under...

26-1-2.1-528. Lessor's Damages for Nonacceptance or Repudiation - Sec. 528. (1) Except as otherwise provided with respect to...

26-1-2.1-529. Lessor's Action for the Rent - Sec. 529. (1) After default by the lessee under the...

26-1-2.1-530. Lessor's Incidental Damages - Sec. 530. Incidental damages to an aggrieved lessor include any...

26-1-2.1-531. Standing to Sue Third Parties for Injury to Goods - Sec. 531. (1) If a third party so deals with...

26-1-2.1-532. Recovery by Lessor for Loss of or Damage to Residual Interest - Sec. 532. In addition to any other recovery permitted by...

Chapter 3. Repealed - Repealed by P.L.222-1993, SEC.58.

Chapter 3.1. Negotiable Instruments

26-1-3.1-101. Short Title - Sec. 101. IC 26-1-3.1 may be cited as Uniform Commercial...

26-1-3.1-102. Subject Matter - Sec. 102. (a) IC 26-1-3.1 applies to negotiable instruments. It...

26-1-3.1-103. Definitions - Sec. 103. (a) In IC 26-1-3.1: (1) "Acceptor" means a...

26-1-3.1-104. Negotiable Instrument - Sec. 104. (a) Except as provided in subsections (c) and...

26-1-3.1-105. Issue of Instrument - Sec. 105. (a) "Issue" means the first delivery of an...

26-1-3.1-106. Unconditional Promise or Order - Sec. 106. (a) Except as provided in this section, for...

26-1-3.1-107. Instrument Payable in Foreign Money - Sec. 107. Unless the instrument otherwise provides, an instrument that...

26-1-3.1-108. Payable on Demand or at Definite Time - Sec. 108. (a) A promise or order is "payable on...

26-1-3.1-109. Payable to Bearer or to Order - Sec. 109. (a) A promise or order is payable to...

26-1-3.1-110. Identification of Person to Whom Instrument Is Payable - Sec. 110. (a) The person to whom an instrument is...

26-1-3.1-111. Place of Payment - Sec. 111. Except as otherwise provided for items in IC...

26-1-3.1-112. Interest - Sec. 112. (a) Unless otherwise provided in the instrument: (1)...

26-1-3.1-113. Date of Instrument - Sec. 113. (a) An instrument may be antedated or postdated....

26-1-3.1-114. Contradictory Terms of Instrument - Sec. 114. If an instrument contains contradictory terms, typewritten terms...

26-1-3.1-115. Incomplete Instrument - Sec. 115. (a) "Incomplete instrument" means a signed writing, whether...

26-1-3.1-116. Joint and Several Liability; Contribution - Sec. 116. (a) Except as otherwise provided in the instrument,...

26-1-3.1-117. Other Agreements Affecting Instrument - Sec. 117. Subject to applicable law regarding exclusion of proof...

26-1-3.1-118. Statute of Limitations - Sec. 118. (a) Except as provided in subsection (e), an...

26-1-3.1-119. Notice of Right to Defend Action - Sec. 119. In an action for breach of an obligation...

26-1-3.1-201. Negotiation - Sec. 201. (a) "Negotiation" means a transfer of possession, whether...

26-1-3.1-202. Negotiation Subject to Rescission - Sec. 202. (a) Negotiation is effective even if obtained: (1)...

26-1-3.1-203. Transfer of Instrument; Rights Acquired by Transfer - Sec. 203. (a) An instrument is transferred when it is...

26-1-3.1-204. Endorsement - Sec. 204. (a) "Endorsement" means a signature, other than that...

26-1-3.1-205. Special Endorsement; Blank Endorsement; Anomalous Endorsement - Sec. 205. (a) If an endorsement is made by the...

26-1-3.1-206. Restrictive Endorsement - Sec. 206. (a) An endorsement limiting payment to a particular...

26-1-3.1-207. Reacquisition - Sec. 207. Reacquisition of an instrument occurs if it is...

26-1-3.1-301. Person Entitled to Enforce Instrument - Sec. 301. "Person entitled to enforce" an instrument means: (1)...

26-1-3.1-302. Holder in Due Course - Sec. 302. (a) Subject to subsection (c) and IC 26-1-3.1-106(d),...

26-1-3.1-303. Value and Consideration - Sec. 303. (a) An instrument is issued or transferred for...

26-1-3.1-304. Overdue Instrument - Sec. 304. (a) An instrument payable on demand becomes overdue...

26-1-3.1-305. Defenses and Claims in Recoupment - Sec. 305. (a) Except as otherwise provided in this section,...

26-1-3.1-306. Claims to an Instrument - Sec. 306. A person taking an instrument, other than a...

26-1-3.1-307. Notice of Breach of Fiduciary Duty - Sec. 307. (a) In this section: (1) "Fiduciary" means an...

26-1-3.1-308. Proof of Signatures and Status as Holder in Due Course - Sec. 308. (a) In an action with respect to an...

26-1-3.1-309. Enforcement of Lost, Destroyed, or Stolen Instrument - Sec. 309. (a) A person not in possession of an...

26-1-3.1-310. Effect of Instrument on Obligation for Which Taken - Sec. 310. (a) Unless otherwise agreed, if a certified check,...

26-1-3.1-311. Accord and Satisfaction by Use of Instrument - Sec. 311. (a) If a person against whom a claim...

26-1-3.1-312. Lost Check; Assertion of Claim to Obligated Bank - Sec. 312. (a) In this section: (1) "Check" means a...

26-1-3.1-401. Signature - Sec. 401. (a) A person is not liable on an...

26-1-3.1-402. Signature by Representative - Sec. 402. (a) If a person acting, or purporting to...

26-1-3.1-403. Unauthorized Signature - Sec. 403. (a) Unless otherwise provided in IC 26-1-3.1 or...

26-1-3.1-404. Impostors; Fictitious Payees - Sec. 404. (a) If an impostor, by use of the...

26-1-3.1-405. Employer's Responsibility for Fraudulent Endorsement by Employee - Sec. 405. (a) In this section: (1) "Employee" includes an...

26-1-3.1-406. Negligence Contributing to Forged Signature or Alteration of Instrument - Sec. 406. (a) A person whose failure to exercise ordinary...

26-1-3.1-407. Alteration - Sec. 407. (a) "Alteration" means: (1) an unauthorized change in...

26-1-3.1-408. Drawee Not Liable on Unaccepted Draft - Sec. 408. A check or other draft does not of...

26-1-3.1-409. Acceptance of Draft; Certified Check - Sec. 409. (a) "Acceptance" means the drawee's signed agreement to...

26-1-3.1-410. Acceptance Varying Draft - Sec. 410. (a) If the terms of a drawee's acceptance...

26-1-3.1-411. Refusal to Pay Cashier's Checks, Teller's Checks, and Certified Checks - Sec. 411. (a) In this section, "obligated bank" means the...

26-1-3.1-412. Obligation of Issuer of Note or Cashier's Check - Sec. 412. The issuer of a note or cashier's check...

26-1-3.1-413. Obligation of Acceptor - Sec. 413. (a) The acceptor of a draft is obliged...

26-1-3.1-414. Obligation of Drawer - Sec. 414. (a) This section does not apply to cashier's...

26-1-3.1-415. Obligation of Endorser - Sec. 415. (a) Subject to subsections (b), (c), and (d)...

26-1-3.1-416. Transfer Warranties - Sec. 416. (a) A person who transfers an instrument for...

26-1-3.1-417. Presentment Warranties - Sec. 417. (a) If an unaccepted draft is presented to...

26-1-3.1-418. Payment or Acceptance by Mistake - Sec. 418. (a) Except as provided in subsection (c), if...

26-1-3.1-419. Instruments Signed for Accommodation - Sec. 419. (a) If an instrument is issued for value...

26-1-3.1-420. Conversion of Instrument - Sec. 420. (a) The law applicable to conversion of personal...

26-1-3.1-501. Presentment - Sec. 501. (a) "Presentment" means a demand made by or...

26-1-3.1-502. Dishonor - Sec. 502. (a) Dishonor of a note is governed by...

26-1-3.1-502.5. Surcharge After Dishonor - Sec. 502.5. (a) Except as provided in subsection (b), a...

26-1-3.1-503. Notice of Dishonor - Sec. 503. (a) The obligation of an endorser stated in...

26-1-3.1-504. Excused Presentment and Notice of Dishonor - Sec. 504. (a) Presentment for payment or acceptance of an...

26-1-3.1-505. Evidence of Dishonor - Sec. 505. (a) The following are admissible as evidence and...

26-1-3.1-601. Discharge and Effect of Discharge - Sec. 601. (a) The obligation of a party to pay...

26-1-3.1-602. Payment - Sec. 602. (a) Subject to subsection (e), an instrument is...

26-1-3.1-603. Tender of Payment - Sec. 603. (a) If tender of payment of an obligation...

26-1-3.1-604. Discharge by Cancellation or Renunciation - Sec. 604. (a) A person entitled to enforce an instrument,...

26-1-3.1-605. Release or Extension of an Obligor's Obligation - Sec. 605. (a) If a person entitled to enforce an...

Chapter 4. Bank Deposits and Collections

26-1-4-101. Short Title - Sec. 101. IC 26-1-4 may be cited as Uniform Commercial...

26-1-4-102. Applicability - Sec. 102. (a) To the extent that items within IC...

26-1-4-102.5. Application of Bank Provisions to Supervised Financial Organizations - Sec. 102.5. (a) As used in this section, "supervised financial...

26-1-4-103. Variation by Agreement; Measure of Damages; Action Constituting Ordinary Care - Sec. 103. (a) The effect of the provisions of IC...

26-1-4-104. Definitions and Index of Definitions - Sec. 104. (a) In IC 26-1-4, unless the context otherwise...

26-1-4-105. "Bank"; "Depositary Bank"; "Payor Bank"; "Intermediary Bank"; "Collecting Bank"; "Presenting Bank" - Sec. 105. In IC 26-1-4: (1) "Bank" means a person...

26-1-4-106. Payable Through or Payable at Bank; Collecting Bank - Sec. 106. (a) If an item states that it is...

26-1-4-107. Separate Office of Bank - Sec. 107. A branch or separate office of a bank...

26-1-4-108. Time of Receipt of Items - Sec. 108. (a) For the purpose of allowing time to...

26-1-4-109. Delays - Sec. 109. (a) Unless otherwise instructed, a collecting bank in...

26-1-4-110. Electronic Presentment - Sec. 110. (a) "Agreement for electronic presentment" means an agreement,...

26-1-4-111. Statute of Limitations - Sec. 111. An action to enforce an obligation, duty, or...

26-1-4-201. Status of Collecting Banks as Agent and Provisional Status of Credits; Applicability of Chapter; Item Endorsed "Pay Any Bank" - Sec. 201. (a) Unless a contrary intent clearly appears and...

26-1-4-202. Responsibility for Collection or Return; When Action Timely - Sec. 202. (a) A collecting bank must exercise ordinary care...

26-1-4-203. Effect of Instructions - Sec. 203. Subject to of IC 26-1-3.1-420 concerning conversion of...

26-1-4-204. Methods of Sending and Presenting; Sending Directly to Payor Bank - Sec. 204. (a) A collecting bank shall send items by...

26-1-4-205. Depositary Bank Holder of Unendorsed Items - Sec. 205. If a customer delivers an item to a...

26-1-4-206. Transfer Between Banks - Sec. 206. Any agreed method that identifies the transferor bank...

26-1-4-207. Transfer Warranties - Sec. 207. (a) A customer or collecting bank that transfers...

26-1-4-208. Presentment Warranties - Sec. 208. (a) If an unaccepted draft is presented to...

26-1-4-209. Encoding and Retention Warranties - Sec. 209. (a) A person who encodes information on or...

26-1-4-210. Security Interest of Collecting Bank in Items, Accompanying Documents, and Proceeds - Sec. 210. (a) A collecting bank has a security interest...

26-1-4-211. When Bank Gives Value for Purposes of Holder in Due Course - Sec. 211. For purposes of determining its status as a...

26-1-4-212. Presentment by Notice of Item Not Payable By, Through, or at Bank; Liability of Drawer or Endorser - Sec. 212. (a) Unless otherwise instructed, a collecting bank may...

26-1-4-213. Medium and Time of Settlement by Bank - Sec. 213. (a) With respect to settlement by a bank,...

26-1-4-214. Right of Charge-Back or Refund; Liability of Collecting Bank; Return of Item - Sec. 214. (a) If a collecting bank has made provisional...

26-1-4-215. Final Payment of Item by Payor Bank; When Provisional Debits and Credits Become Final; When Certain Credits Become Available for Withdrawal - Sec. 215. (a) An item is finally paid by a...

26-1-4-216. Insolvency and Preference - Sec. 216. (a) If an item is in or comes...

26-1-4-301. Deferred Posting; Recovery of Payment by Return of Items; Time of Dishonor; Return of Items by Payor Bank - Sec. 301. (a) If a payor bank settles for a...

26-1-4-302. Payor Bank's Responsibility for Late Return of Item - Sec. 302. (a) If an item is presented to and...

26-1-4-303. When Items Subject to Notice, Stop-Payment Order, Legal Process, or Setoff; Order in Which Items May Be Charged or Certified - Sec. 303. (a) Any knowledge, notice, or stop-payment order received...

26-1-4-401. When Bank May Charge Customer's Account - Sec. 401. (a) A bank may charge against the account...

26-1-4-402. Bank's Liability to Customer for Wrongful Dishonor; Time of Determining Insufficiency of Account - Sec. 402. (a) Except as otherwise provided in IC 26-1-4,...

26-1-4-403. Customer's Right to Stop Payment; Burden of Proof of Loss - Sec. 403. (a) A customer or any person authorized to...

26-1-4-404. Bank Not Obligated to Pay Check More Than Six Months Old - Sec. 404. A bank is under no obligation to a...

26-1-4-405. Death or Incompetence of Customer - Sec. 405. (a) A payor or collecting bank's authority to...

26-1-4-406. Customer's Duty to Discover and Report Unauthorized Signature or Alteration - Sec. 406. (a) A bank that sends or makes available...

26-1-4-407. Payor Bank's Right to Subrogation on Improper Payment - Sec. 407. If a payor bank has paid an item...

26-1-4-501. Handling of Documentary Drafts; Duty to Send for Presentment and to Notify Customer of Dishonor - Sec. 501. A bank that takes a documentary draft for...

26-1-4-502. Presentment of "On Arrival" Drafts - Sec. 502. If a draft or the relevant instructions require...

26-1-4-503. Responsibility of Presenting Bank for Documents and Goods; Report of Reasons for Dishonor; Referee in Case Needed - Sec. 503. Unless otherwise instructed and except as provided in...

26-1-4-504. Privilege of Presenting Bank to Deal With Goods; Security Interest for Expenses - Sec. 504. (a) A presenting bank that, following the dishonor...

Chapter 4.1. Fund Transfers

26-1-4.1-101. Short Title - Sec. 101. IC 26-1-4.1 may be cited as the Uniform...

26-1-4.1-102. Subject Matter - Sec. 102. Except as otherwise provided in IC 26-1-4.1-108, this...

26-1-4.1-103. Payment Order—definitions - Sec. 103. (a) In IC 26-1-4.1: (1) "Payment order" means...

26-1-4.1-104. Funds Transfer—definitions - Sec. 104. In IC 26-1-4.1: (a) "Funds transfer" means the...

26-1-4.1-105. Other Definitions - Sec. 105. (a) In IC 26-1-4.1: (1) "Authorized account" means...

26-1-4.1-106. Time Payment Order Is Received - Sec. 106. (a) The time of receipt of a payment...

26-1-4.1-107. Federal Reserve Regulations and Operating Circulars - Sec. 107. Regulations of the Board of Governors of the...

26-1-4.1-108. Exclusion of Consumer Transactions Governed by Federal Law - Sec. 108. (a) Except as provided by subsection (b), IC...

26-1-4.1-201. "Security Procedure" - Sec. 201. "Security procedure" means a procedure established by agreement...

26-1-4.1-202. Authorized and Verified Payment Orders - Sec. 202. (a) A payment order received by the receiving...

26-1-4.1-203. Unenforceability of Certain Verified Payment Orders - Sec. 203. (a) If an accepted payment order is not,...

26-1-4.1-204. Refund of Payment and Duty of Customer to Report With Respect to Unauthorized Payment Order - Sec. 204. (a) If a receiving bank accepts a payment...

26-1-4.1-205. Erroneous Payment Orders - Sec. 205. (a) If an accepted payment order was transmitted...

26-1-4.1-206. Transmission of Payment Order Through Funds-Transfer or Other Communication System - Sec. 206. (a) If a payment order addressed to a...

26-1-4.1-207. Misdescription of Beneficiary - Sec. 207. (a) Subject to subsection (b), if, in a...

26-1-4.1-208. Misdescription of Intermediary Bank or Beneficiary's Bank - Sec. 208. (a) This subsection applies to a payment order...

26-1-4.1-209. Acceptance of Payment Order - Sec. 209. (a) Subject to subsection (d), a receiving bank...

26-1-4.1-210. Rejection of Payment Order - Sec. 210. (a) A payment order is rejected by the...

26-1-4.1-211. Cancellation and Amendment of Payment Order - Sec. 211. (a) A communication of the sender of a...

26-1-4.1-212. Liability and Duty of Receiving Bank Regarding Unaccepted Payment Order - Sec. 212. If a receiving bank fails to accept a...

26-1-4.1-301. Execution and Execution Date - Sec. 301. (a) A payment order is "executed" by the...

26-1-4.1-302. Obligations of Receiving Bank in Execution of Payment Order - Sec. 302. (a) Except as provided in subsections (b) through...

26-1-4.1-303. Erroneous Execution of Payment Order - Sec. 303. (a) A receiving bank that (i) executes the...

26-1-4.1-304. Duty of Sender to Report Erroneously Executed Payment Order - Sec. 304. If the sender of a payment order that...

26-1-4.1-305. Liability for Late or Improper Execution or Failure to Execute Payment Order - Sec. 305. (a) If a funds transfer is completed but...

26-1-4.1-401. "Payment Date" - Sec. 401. "Payment date" of a payment order means the...

26-1-4.1-402. Obligation of Sender to Pay Receiving Bank - Sec. 402. (a) This section is subject to IC 26-1-4.1-205...

26-1-4.1-403. Payment by Sender to Receiving Bank - Sec. 403. (a) Payment of the sender's obligation under IC...

26-1-4.1-404. Obligation of Beneficiary's Bank to Pay and Give Notice to Beneficiary - Sec. 404. (a) Subject to IC 26-1-4.1-211(e), IC 26-1-4.1-405(d), and...

26-1-4.1-405. Payment by Beneficiary's Bank to Beneficiary - Sec. 405. (a) If the beneficiary's bank credits an account...

26-1-4.1-406. Payment by Originator to Beneficiary; Discharge of Underlying Obligation - Sec. 406. (a) Subject to IC 26-1-4.1-211(e), IC 26-1-4.1-405(d), and...

26-1-4.1-501. Variation by Agreement and Effect of Funds Transfer System Rule - Sec. 501. (a) Except as otherwise provided in IC 26-1-4.1,...

26-1-4.1-502. Creditor Process Served on Receiving Bank; Setoff by Beneficiary's Bank - Sec. 502. (a) As used in this section, "creditor process"...

26-1-4.1-503. Injunction or Restraining Order With Respect to Funds Transfer - Sec. 503. For proper cause and in compliance with applicable...

26-1-4.1-504. Order in Which Items and Payment Orders May Be Charged to Account; Order of Withdrawals From Account - Sec. 504. (a) If a receiving bank has received more...

26-1-4.1-505. Preclusion of Objection to Debit of Customer's Account - Sec. 505. If a receiving bank has received payment from...

26-1-4.1-506. Rate of Interest - Sec. 506. (a) If, under IC 26-1-4.1, a receiving bank...

26-1-4.1-507. Choice of Law - Sec. 507. (a) The following rules apply unless the affected...

Chapter 5. Repealed - Repealed by P.L.183-1996, SEC.12.

Chapter 5.1. Letters of Credit

26-1-5.1-101. Short Title; Scope - Sec. 101. (a) IC 26-1-5.1 shall be known and may...

26-1-5.1-102. Definitions - Sec. 102. (a) In IC 26-1-5.1: (1) "Adviser" means a...

26-1-5.1-103. Applicability to Ic 26-1-8.1; Ability to Vary by Agreement; Independence of Rights and Obligations Under Letter of Credit - Sec. 103. (a) IC 26-1-8.1 applies to letters of credit...

26-1-5.1-104. Formal Requirements; Signing or Standard Practice - Sec. 104. A letter of credit, confirmation, advice, transfer, amendment,...

26-1-5.1-105. Consideration - Sec. 105. Consideration is not required to issue, amend, transfer,...

26-1-5.1-106. Time and Effect of Establishment of Credit; Expiration - Sec. 106. (a) A letter of credit is issued and...

26-1-5.1-107. Confirmation; Advice of Credit; Error in Statement Terms; Notice to Transfer Beneficiary - Sec. 107. (a) A confirmer is directly obligated on a...

26-1-5.1-108. Issuer's Duty and Privilege to Honor; Standard Practice; Issuer's Rights Upon Honor of Presentation - Sec. 108. (a) Except as otherwise provided in IC 26-1-5.1-109,...

26-1-5.1-109. Fraud and Forgery - Sec. 109. (a) If a presentation is made that appears...

26-1-5.1-110. Warranties on Transfer and Presentment - Sec. 110. (a) If its presentation is honored, the beneficiary...

26-1-5.1-111. Remedies for Wrongful Dishonor, Repudiation, or Breach of Obligation - Sec. 111. (a) If an issuer wrongfully dishonors or repudiates...

26-1-5.1-112. Transferability - Sec. 112. (a) Except as otherwise provided in IC 26-1-5.1-113,...

26-1-5.1-113. Successors of Beneficiaries; Rights; Recognition - Sec. 113. (a) A successor of a beneficiary may consent...

26-1-5.1-114. Proceeds of Letter of Credit; Assignment - Sec. 114. (a) In this section, "proceeds of a letter...

26-1-5.1-115. Statute of Limitations - Sec. 115. An action to enforce a right or obligation...

26-1-5.1-116. Applicable Law Regarding Liability of Issuer; Choice of Forum - Sec. 116. (a) The liability of an issuer, nominated person,...

26-1-5.1-117. Rights of Subrogation - Sec. 117. (a) An issuer that honors a beneficiary's presentation...

26-1-5.1-118. Security Interest of Issuer or Nominated Person - Sec. 118. (a) An issuer or nominated person has a...

Chapter 6. Repealed - Repealed by P.L.144-1997, SEC.8.

Chapter 6.1. Repealed - Repealed by P.L.77-2007, SEC.4.

Chapter 6.2. Enforcement of Rights and Obligations Under Repealed Uniform Bulk Sales Law

26-1-6.2-1. Validity and Enforcement of Rights and Obligations Under Prior Law - Sec. 1. Rights and obligations that arose under IC 26-1-6.1...

Chapter 7. Documents of Title

26-1-7-101. Short Title - Sec. 101. This chapter may be cited as Uniform Commercial...

26-1-7-102. Definitions and Index of Definitions - Sec. 102. (a) In this chapter unless the context otherwise...

26-1-7-103. Relation of Chapter to Other Laws - Sec. 103. (a) This chapter is subject to any treaty...

26-1-7-104. Negotiable and Nonnegotiable Warehouse Receipt, Bill of Lading, and Other Document of Title - Sec. 104. (a) Except as otherwise provided in subsection (c),...

26-1-7-105. Tangible Substitute for Electronic Document of Title - Sec. 105. (a) Upon request of a person entitled under...

26-1-7-106. Control of Electronic Document of Title - Sec. 106. (a) A person has control of an electronic...

26-1-7-201. Who May Issue a Warehouse Receipt; Storage Under Government Bond - Sec. 201. (a) A warehouse receipt may be issued by...

26-1-7-202. Form of Warehouse Receipt; Essential Terms; Optional Terms - Sec. 202. (a) A warehouse receipt need not be in...

26-1-7-203. Liability for Nonreceipt or Misdescription - Sec. 203. A party to or purchaser for value in...

26-1-7-204. Duty of Care; Contractual Limitation of Warehouse's Liability - Sec. 204. (a) A warehouse is liable for damages for...

26-1-7-205. Title Under Warehouse Receipt Defeated in Certain Cases - Sec. 205. A buyer in the ordinary course of business...

26-1-7-206. Termination of Storage at Warehouse's Option - Sec. 206. (a) A warehouse, by giving notice to the...

26-1-7-207. Goods Must Be Kept Separate; Fungible Goods - Sec. 207. (a) Unless the warehouse receipt otherwise provides, a...

26-1-7-208. Altered Warehouse Receipts - Sec. 208. If a blank in a negotiable tangible warehouse...

26-1-7-209. Warehouse Lien - Sec. 209. (a) A warehouse has a lien against the...

26-1-7-210. Enforcement of Warehouse's Lien - Sec. 210. (a) Except as otherwise provided in subsection (b),...

26-1-7-301. Liability for Nonreceipt or Misdescription; "Said to Contain"; "Shipper's Load and Count"; Improper Handling - Sec. 301. (a) A consignee of a nonnegotiable bill of...

26-1-7-302. Through Bills of Lading and Similar Documents - Sec. 302. (a) The issuer of a through bill of...

26-1-7-303. Diversion; Reconsignment; Change of Instructions - Sec. 303. (a) Unless the bill of lading otherwise provides,...

26-1-7-304. Bills of Lading in a Set - Sec. 304. (a) Except as customary in international transportation, a...

26-1-7-305. Destination Bills - Sec. 305. (a) Instead of issuing a bill of lading...

26-1-7-306. Altered Bills of Lading - Sec. 306. An unauthorized alteration or filling in of a...

26-1-7-307. Lien of Carrier - Sec. 307. (a) A carrier has a lien on the...

26-1-7-308. Enforcement of Carrier's Lien - Sec. 308. (a) A carrier's lien on goods may be...

26-1-7-309. Duty of Care; Contractual Limitation of Carrier's Liability - Sec. 309. (a) A carrier that issues a bill of...

26-1-7-401. Irregularities in Issue of Receipt or Bill or Conduct of Issuer - Sec. 401. The obligations imposed by this chapter on an...

26-1-7-402. Duplicate Receipt or Bill; Overissue - Sec. 402. A duplicate or any other document of title...

26-1-7-403. Obligation of Warehouse or Carrier to Deliver; Excuse - Sec. 403. (a) A bailee shall deliver the goods to...

26-1-7-404. No Liability for Good Faith Delivery Upon Receipt or Bill - Sec. 404. A bailee that in good faith has received...

26-1-7-501. Form of Negotiation and Requirements of "Due Negotiation" - Sec. 501. (a) The following rules apply to a negotiable...

26-1-7-502. Rights Acquired by Due Negotiation - Sec. 502. (a) Subject to sections 205 and 503 of...

26-1-7-503. Form of Negotiation and Requirements of "Due Negotiation" - Sec. 503. (a) A document of title confers no right...

26-1-7-504. Rights Acquired in the Absence of Due Negotiation; Effect of Diversion; Seller's Stoppage of Delivery - Sec. 504. (a) A transferee of a document of title,...

26-1-7-505. Endorser Not a Guarantor for Other Parties - Sec. 505. The endorsement of a tangible document of title...

26-1-7-506. Delivery Without Endorsement; Right to Compel Endorsement - Sec. 506. The transferee of a negotiable tangible document of...

26-1-7-507. Warranties on Negotiation or Transfer of Receipt or Bill - Sec. 507. If a person negotiates or delivers a document...

26-1-7-508. Warranties of Collecting Bank as to Documents - Sec. 508. A collecting bank or other intermediary known to...

26-1-7-509. Receipt or Bill; When Adequate to Comply With Commercial Contract - Sec. 509. Whether a document of title is adequate to...

26-1-7-601. Lost and Missing Documents - Sec. 601. (a) If a document of title is lost,...

26-1-7-602. Attachment of Goods Covered by a Negotiable Document - Sec. 602. Unless a document of title was originally issued...

26-1-7-603. Conflicting Claims; Interpleader - Sec. 603. If more than one (1) person claims title...

Chapter 8. Repealed - Repealed by P.L.247-1995, SEC.26.

Chapter 8.1. Investment Securities

26-1-8.1-0.1. Effect of Enactment of Chapter - Sec. 0.1. The addition of this chapter by P.L.247-1995 does...

26-1-8.1-0.3. Perfection of Certain Security Interests; Continuation of Perfection - Sec. 0.3. If a security interest in a security is...

26-1-8.1-101. Short Title - Sec. 101. IC 26-1-8.1 may be cited as Uniform Commercial...

26-1-8.1-102. Definitions; Rules of Construction - Sec. 102. (a) In IC 26-1-8.1: (1) "Adverse claim" means...

26-1-8.1-103. Classification as Security or Financial Asset - Sec. 103. (a) A share or similar equity interest issued...

26-1-8.1-104. Acquisition of a Security or Financial Asset - Sec. 104. (a) A person acquires a security or an...

26-1-8.1-105. Notice of Adverse Claim - Sec. 105. (a) A person has notice of an adverse...

26-1-8.1-106. Control of Securities - Sec. 106. (a) A purchaser has "control" of a certificated...

26-1-8.1-107. Effectiveness of Endorsement, Instruction, or Entitlement Order - Sec. 107. (a) "Appropriate person" means: (1) with respect to...

26-1-8.1-108. Warranties Upon Purchase or Transfer of Security - Sec. 108. (a) A person who transfers a certificated security...

26-1-8.1-109. Warranties Made by and to a Securities Intermediary - Sec. 109. (a) A person who originates an entitlement order...

26-1-8.1-110. Applicability of Local Law; Determination of Jurisdiction - Sec. 110. (a) The local law of the issuer's jurisdiction,...

26-1-8.1-111. Applicability of Rules Adopted by Clearing Corporations - Sec. 111. A rule adopted by a clearing corporation governing...

26-1-8.1-112. Creditor Access to Debtor's Interest in a Security - Sec. 112. (a) The interest of a debtor in a...

26-1-8.1-113. Enforceability of Contracts for Sale or Purchase of a Security - Sec. 113. A contract or modification of a contract for...

26-1-8.1-114. Special Rules in Actions Against Issuers of a Certificated Security - Sec. 114. The following rules apply in an action on...

26-1-8.1-115. Liability of Securities Intermediary, Broker, or Other Agent or Bailee - Sec. 115. A securities intermediary that has transferred a financial...

26-1-8.1-116. Determination of Securities Intermediary as Purchaser for Value - Sec. 116. A securities intermediary that receives a financial asset...

26-1-8.1-201. "Issuer" Defined - Sec. 201. (a) With respect to an obligation on or...

26-1-8.1-202. Terms of Security; Rules on Validity; Issuer's Defenses; Cancellation of Contracts - Sec. 202. (a) Even against a purchaser for value and...

26-1-8.1-203. Notice of Defects - Sec. 203. After an act or event, other than a...

26-1-8.1-204. Restrictions on Transfer - Sec. 204. A restriction on transfer of a security imposed...

26-1-8.1-205. Effect of Unauthorized Signature or Certificate - Sec. 205. An unauthorized signature placed on a security certificate...

26-1-8.1-206. Enforceability of Incomplete or Incorrect Certificate - Sec. 206. (a) If a security certificate contains the signatures...

26-1-8.1-207. Registered Owner to Exercise All Rights and Powers of Owner Absent Appropriate Notice of Transfer - Sec. 207. (a) Before due presentment for registration of transfer...

26-1-8.1-208. Warranties by Security Certificate Authenticating Signatory - Sec. 208. (a) A person signing a security certificate as...

26-1-8.1-209. Issuer's Lien - Sec. 209. A lien in favor of an issuer upon...

26-1-8.1-210. Overissue of Security; Refund in the Event of Unavailability of Security - Sec. 210. (a) In this section, "overissue" means the issue...

26-1-8.1-301. Delivery of Security - Sec. 301. (a) Delivery of a certificated security to a...

26-1-8.1-302. Rights Acquired by Purchaser - Sec. 302. (a) Except as otherwise provided in subsections (b)...

26-1-8.1-303. "Protected Purchaser" Defined; Acquisition of Interest Free of Adverse Claims - Sec. 303. (a) "Protected purchaser" means a purchaser of a...

26-1-8.1-304. Endorsement of Securities - Sec. 304. (a) An endorsement may be in blank or...

26-1-8.1-305. Incomplete Instructions; Obligations Imposed on Person Initiating Instructions - Sec. 305. (a) If an instruction has been originated by...

26-1-8.1-306. Warranties by Guarantor - Sec. 306. (a) A person who guarantees a signature of...

26-1-8.1-307. Duties of Transferor of Security - Sec. 307. Unless otherwise agreed, the transferor of a security...

26-1-8.1-401. Issuer's Duty to Register Transfer - Sec. 401. (a) If a certificated security in registered form...

26-1-8.1-402. Issuer's Right to Assurances - Sec. 402. (a) An issuer may require the following assurance...

26-1-8.1-403. Demand That Transfer Not Be Registered; Notice; Contents; Liability - Sec. 403. (a) A person who is an appropriate person...

26-1-8.1-404. Issuer Liability for Wrongful Registration of Transfer - Sec. 404. (a) Except as otherwise provided in IC 26-1-8.1-406,...

26-1-8.1-405. Issuance of New Certificates; Protected Purchasers - Sec. 405. (a) If an owner of a certificated security,...

26-1-8.1-406. Failure to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Certificates - Sec. 406. If a security certificate has been lost, apparently...

26-1-8.1-407. Obligations of Agents Acting on Behalf of Issuer - Sec. 407. A person acting as authenticating trustee, a transfer...

26-1-8.1-501. Acquisition of Security Entitlements - Sec. 501. (a) "Securities account" means an account to which...

26-1-8.1-502. Adverse Claims Against Person Holding a Security Entitlement - Sec. 502. An action based on an adverse claim to...

26-1-8.1-503. Property Interests in Financial Assets; Enforcement of Property Rights; Purchasers for Value - Sec. 503. (a) To the extent necessary for a securities...

26-1-8.1-504. Maintenance of Financial Assets by Securities Intermediary; Exempted Entity - Sec. 504. (a) A securities intermediary shall promptly obtain and...

26-1-8.1-505. Duty of Securities Intermediary to Obtain and Pay Distributions on Financial Assets - Sec. 505. (a) A securities intermediary shall take action to...

26-1-8.1-506. Duty of Securities Intermediary to Exercise Rights as Directed by Entitlement Holder - Sec. 506. A securities intermediary shall exercise rights with respect...

26-1-8.1-507. Duty of Securities Intermediary to Comply With Entitlement Order; Liability for Wrongful Transfer - Sec. 507. (a) A securities intermediary shall comply with an...

26-1-8.1-508. Duty of Securities Intermediary to Act at Direction of Entitlement Holder - Sec. 508. A securities intermediary shall act at the direction...

26-1-8.1-509. Standards for Performance of Duties by Securities Intermediary - Sec. 509. (a) If the substance of a duty imposed...

26-1-8.1-510. Purchaser for Value of Financial Asset or Security Entitlement; Adverse Claims - Sec. 510. (a) In a case not covered by the...

26-1-8.1-511. Priority of Claims in Financial Asset - Sec. 511. (a) Except as otherwise provided in subsections (b)...

Chapter 9. Repealed - Repealed by P.L.57-2000, SEC.48.

Chapter 9.1. Secured Transactions

26-1-9.1-101. Short Title - Sec. 101. IC 26-1-9.1 may be cited as Uniform Commercial...

26-1-9.1-102. Definitions and Index of Definitions - Sec. 102. (a) In IC 26-1-9.1: (1) "Accession" means goods...

26-1-9.1-102.5. "Take Free"; "Takes Free"; "Takes the Money Free"; "Takes the Funds Free" - Sec. 102.5. As used in this chapter, "take free", "takes...

26-1-9.1-103. Purchase-Money Security Interest; Application of Payment; Burden of Establishing - Sec. 103. (a) In this section: (1) "Purchase-money collateral" means...

26-1-9.1-104. Control of Deposit Account - Sec. 104. (a) A secured party has control of a...

26-1-9.1-105. Control of Electronic Chattel Paper - Sec. 105. (a) A secured party has control of electronic...

26-1-9.1-106. Control of Investment Property - Sec. 106. (a) A person has control of a certificated...

26-1-9.1-107. Control of Letter-of-Credit Right - Sec. 107. A secured party has control of a letter-of-credit...

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Indiana Code Title 26. Commercial Law Article 1. Uniform Commercial Code

Indiana Code
Title 26. Commercial Law
Article 1. Uniform Commercial Code