1. (a) This chapter applies to the following:

   1. (1) Contracts that may be terminated or altered at will.
   2. (2) Contracts formed or renewed after June 30, 1989.
2. (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.

3. (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.