Ind. Code ch. 26-4-1

in effect

Ind. Code § 26-4-1-1 Applicability of law

Sec. 1. This article applies to a grain buyer (as defined in section 14 of this chapter). As added by P.L.250-1995, SEC.1.

Ind. Code § 26-4-1-2 Applicability of definitions

Sec. 2. The definitions in this chapter apply throughout this article. As added by P.L.250-1995, SEC.1.

Ind. Code § 26-4-1-3 "Agency"

Sec. 3. "Agency" refers to the Indiana grain buyers and warehouse licensing agency established under IC 26-3-7. As added by P.L.250-1995, SEC.1. Amended by P.L.125-1997, SEC.56.

Ind. Code § 26-4-1-3.5 "Basis"

Sec. 3.5. "Basis" means the difference between the flat price contract and a specified futures price of the same or a related commodity. As added by P.L.114-2025, SEC.44.

Ind. Code § 26-4-1-3.7 Repealed

As added by P.L.114-2025, SEC.45. Repealed by P.L.23-2026, SEC.260.

Ind. Code § 26-4-1-4 "Board"

Sec. 4. "Board" means the governing body of the Indiana grain indemnity corporation created by IC 26-4-3-2. As added by P.L.250-1995, SEC.1.

Ind. Code § 26-4-1-4.5 "Claim"

Sec. 4.5. "Claim" means a claim that has been vetted through the agency process under IC 26-3-7-16.5 where the claimant has provided the agency with documentation of the financial loss the claimant has experienced minus any payments made to the claimant regarding said loss. As added by P.L.114-2025, SEC.46.

Ind. Code § 26-4-1-5 "Claimant"

Sec. 5. "Claimant" means a producer that: (1) is a participant in the grain indemnity program; (2) possesses a claim resulting from the revocation of a license of a licensed grain buyer or warehouse; and (3) can provide written documented proof of the type of loss and price at which the financial loss was calculated. As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.15; P.L.114-2025, SEC.47.

Ind. Code § 26-4-1-5.5 "Conflict of interest"

Sec. 5.5. "Conflict of interest" means having or representing a person who has a direct or indirect financial interest in a licensee. As added by P.L.208-2021, SEC.7.

Ind. Code § 26-4-1-6 "Cooperative agreement"

Sec. 6. "Cooperative agreement" means an agreement made by the board as may be reasonable and proper to carry out the provisions of this article. As added by P.L.250-1995, SEC.1.

Ind. Code § 26-4-1-7 "Corporation"

Sec. 7. "Corporation" means the Indiana grain indemnity corporation established by IC 26-4-3-1. As added by P.L.250-1995, SEC.1.

Ind. Code § 26-4-1-8 Repealed

As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.16. Repealed by P.L.32-2021, SEC.73.

Ind. Code § 26-4-1-8.1 "Deferred pricing"

Sec. 8.1. "Deferred pricing" means a purchase by a buyer where title to the grain passes to the buyer, in which the actual dollar price to be paid to the seller is not to be determined at the time the grain is received by the buyer or less than twenty-one (21) days of that receipt. As added by P.L.114-2025, SEC.48.

Ind. Code § 26-4-1-9 "Director"

Sec. 9. "Director" means the director of the agency (as defined in section 3 of this chapter). As added by P.L.250-1995, SEC.1.

Ind. Code § 26-4-1-10 Repealed

As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.17; P.L.42-2011, SEC.61. Repealed by P.L.114-2025, SEC.49.

Ind. Code § 26-4-1-11 "Financial loss"

Sec. 11. "Financial loss" means a loss resulting from the following: (1) A producer not being fully paid for grain that has been delivered and sold to a grain buyer, net of any outstanding charges against the grain. (2) Storage loss. As added by P.L.250-1995, SEC.1. Amended by P.L.114-2025, SEC.50.

Ind. Code § 26-4-1-11.5 "Flat price contract"

Sec. 11.5. "Flat price contract" means a contract that sets a fixed price for a specific delivery requirement, where the price is determined by adding the basis to the futures price of the same commodity, which is set before the futures contract expires. As added by P.L.114-2025, SEC.51.

Ind. Code § 26-4-1-12 "Fund"

Sec. 12. "Fund" means the Indiana grain indemnity fund established under IC 26-4-4-1. As added by P.L.250-1995, SEC.1.

Ind. Code § 26-4-1-13 "Grain"

Sec. 13. "Grain" means corn for all uses, popcorn, wheat, oats, rye, soybeans, barley, sorghum, oil seeds, other agricultural commodities as approved by the agency, and seed (as defined in IC 26-3-7-2(31)). The term does not include canning crops for processing or sweet corn. As added by P.L.250-1995, SEC.1. Amended by P.L.173-1999, SEC.15; P.L.1-2006, SEC.484; P.L.75-2010, SEC.18; P.L.60-2015, SEC.13; P.L.145-2017, SEC.12; P.L.208-2021, SEC.8; P.L.114-2025, SEC.52; P.L.23-2026, SEC.261.

Ind. Code § 26-4-1-14 "Grain buyer"

Sec. 14. "Grain buyer" means a person licensed under IC 26-3-7 who is engaged in Indiana in the business of buying grain from producers. As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.19.

Ind. Code § 26-4-1-15 "Grain indemnity program"

Sec. 15. "Grain indemnity program" means the system created by this article in which the board pays money out of the fund to producers having financial losses due to a license revocation. As added by P.L.250-1995, SEC.1. Amended by P.L.114-2025, SEC.53.

Ind. Code § 26-4-1-15.5 "Licensee"

Sec. 15.5. "Licensee" has the meaning set forth in IC 26-3-7-2(25). As added by P.L.145-2017, SEC.13. Amended by P.L.208-2021, SEC.9; P.L.23-2026, SEC.262.

Ind. Code § 26-4-1-15.7 "Outstanding charges" and "credits and offsets"

Sec. 15.7. "Outstanding charges" and "credits and offsets" include the following: (1) Moisture discounts and drying charges. (2) Foreign material discounts and quality discounts. (3) Storage charges. (4) Deferred pricing charges. (5) Marketing checkoffs. (6) All other deductions from the gross amount due to the producer on the sale of grain. As added by P.L.114-2025, SEC.54.

Ind. Code § 26-4-1-16 "Participant in the grain indemnity program"

Sec. 16. "Participant in the grain indemnity program" means a producer who has: (1) not requested and received a refund under IC 26-4-5-1 after June 30, 2015; or (2) reentered the program under IC 26-4-5-2. As added by P.L.250-1995, SEC.1. Amended by P.L.268-2001, SEC.1; P.L.145-2017, SEC.14.

Ind. Code § 26-4-1-17 "Person"

Sec. 17. "Person" means a natural person, partnership, firm, association, corporation, limited liability company, or other business organization. As added by P.L.250-1995, SEC.1.

Ind. Code § 26-4-1-18 "Producer"

Sec. 18. "Producer" means an owner of land, a tenant on land, or an operator of a farm that has an interest in and receives all or any part of the proceeds from the sale to a first purchaser licensee of the grain produced. As added by P.L.250-1995, SEC.1. Amended by P.L.145-2017, SEC.15.

Ind. Code § 26-4-1-19 "Producer premium"

Sec. 19. "Producer premium" means the amount of money charged to and collected from a producer under IC 26-4-4-4 that qualifies the producer to be a part of the grain indemnity program. As added by P.L.250-1995, SEC.1.

Ind. Code § 26-4-1-19.3 "Revocation of a license"

Sec. 19.3. "Revocation of a license" has the meaning set forth in IC 26-3-7-2. As added by P.L.114-2025, SEC.55.

Ind. Code § 26-4-1-19.5 "Seed"

Sec. 19.5. "Seed", notwithstanding IC 15-15-1, means grain set apart to be used primarily for the purpose of producing new plants. As added by P.L.173-1999, SEC.16. Amended by P.L.2-2008, SEC.68.

Ind. Code § 26-4-1-19.7 "Storage"

Sec. 19.7. "Storage" has the meaning set forth in IC 26-3-7-2. As added by P.L.114-2025, SEC.56.

Ind. Code § 26-4-1-20 "Storage loss"

Sec. 20. "Storage loss" means a loss to a storage depositor resulting from a warehouse operator: (1) whose license has been revoked; and (2) who has not fully satisfied the warehouse operator's storage obligation to the depositor, net of any outstanding charges against the grain. As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.20; P.L.114-2025, SEC.57.

Ind. Code § 26-4-1-21 "United States Warehouse Act"

Sec. 21. "United States Warehouse Act" means the United States Warehouse Act, enacted August 11, 1916, as amended. As added by P.L.250-1995, SEC.1.

Ind. Code § 26-4-1-22 Repealed

As added by P.L.250-1995, SEC.1. Amended by P.L.173-1999, SEC.17. Repealed by P.L.75-2010, SEC.35.

Ind. Code § 26-4-1-23 "Warehouse"

Sec. 23. "Warehouse" means any building or other protected enclosure in one (1) general location that is licensed or required to be licensed under IC 26-3-7, which building or other protected enclosure is operated under one (1) ownership and run from a single office, and in which grain is or may be: (1) stored for hire; (2) used for grain bank storage; or (3) used to store company owned grain. As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.21; P.L.114-2025, SEC.58.

Ind. Code § 26-4-1-24 "Warehouse operator"

Sec. 24. "Warehouse operator" means a person who operates a facility or group of facilities: (1) in which grain is or may be stored for hire; or (2) that is used for grain bank storage; and that is operated under one (1) ownership and run from a single office that holds a valid license under IC 26-3-7 or the United States Warehouse Act. As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.22.

Ind. Code § 26-4-1-25 Repealed

As added by P.L.250-1995, SEC.1. Repealed by P.L.32-2021, SEC.74.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/26Fetched: 10/17/2026