Section 905IAC1-21-1. Restrictions on credit sales and sales to delinquent debtor

   Every wholesale permittee selling alcoholic spirituous and vinous beverages at wholesale may extend credit on such beverages sold to licensees or permittees authorized to purchase the same for a period of fifteen (15) days at date of invoice, date of invoice included, and further that when such fifteen (15) day period without payment in full has passed then no wholesaler shall sell to any such permittee except for Cash on Delivery, provided further that such permittee be given an extended fifteen (15) day grace period, Cash on Delivery, in which to fully liquidate any indebtedness. After the expiration of the extended fifteen (15) days grace period, Cash on Delivery, if any indebtedness has not been fully liquidated then no wholesaler shall sell to such permittee for cash, or Cash on Delivery until all delinquent items have been paid. (Alcohol and Tobacco Commission; Reg 37; filed Oct 22, 1953, 2:05 pm: Rules and Regs. 1954, p. 2; readopted filed Oct 4, 2001, 3:15 p.m.: 25 IR 941; readopted filed Sep 18, 2007, 3:42 p.m.: 20071010-IR-905070191RFA; readopted filed Oct 29, 2013, 3:39 p.m.: 20131127-IR-905130360RFA)