Indiana Code - Taxation - Title 6, Section 6-6-2.5-26.2

"Two party exchange" defined

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.

Last modified: May 28, 2006