"Two party exchange"

Official textiga.in.govlast amended 1994

Sec. 26.2. As used in this chapter, "two (2) party exchange" means a transaction in which a product is transferred from one (1) licensed supplier or permissive supplier to another when:

# (1)

the transaction includes a transfer from the person who holds the original inventory position for special fuel in the terminal as indicated in the records of the terminal operator; and

# (2)

the exchange transaction is completed before removal from the terminal by the receiving exchange partner, provided that the terminal operator in the terminal operator's books and records treats the receiving exchange party as the supplier that receives the product for purposes of reporting the events to the state of Indiana.
As added by P.L.18-1994, SEC.23.

Amendment history

As added by P.L.18-1994, SEC.23.

Source: view the official text

Nearby sections (25 sections)

6-6-2.5-19 · "Rack"
6-6-2.5-20 · "Received"
6-6-2.5-21 · "Retailer"
6-6-2.5-22 · "Special fuel"
6-6-2.5-22.5 · "Special fuel gallon"
6-6-2.5-23 · "Supplier"
6-6-2.5-24 · "Terminal"
6-6-2.5-25 · "Terminal operator"
6-6-2.5-25.1 · "Transfer in bulk into or within a terminal"
6-6-2.5-25.9 · "Transporter"
6-6-2.5-26 · "Transmix"
6-6-2.5-26.1 · "Transport truck"
6-6-2.5-26.2 · "Two party exchange"
6-6-2.5-26.5 · "Truck stop"
6-6-2.5-27 · "Wholesaler"
6-6-2.5-28 · License tax; presumptions; computation; liability for…
6-6-2.5-29 · Inventory tax; exclusions; amount
6-6-2.5-30 · Exemptions from special fuel tax; provision of export
6-6-2.5-30.5 · Exemption from special fuel tax; restricted personal,
6-6-2.5-31 · Exempted special fuels; dye requirements and…
6-6-2.5-32 · Refunds; circumstances; claims; investigations
6-6-2.5-32.5 · Refund of special fuel tax; qualification; claim for…
6-6-2.5-32.7 · Refund of special fuel tax; compressed natural gas…
6-6-2.5-33 · Payment of interest on refund claim
6-6-2.5-34 · Supplier deduction for gallons purchased; prohibition;

Full table of contents →