IC 22-9.5-6-16: Effect of order on prior transactions

Sec. 16. A commission order under section 15 of this chapter does not affect a contract, a sale, an encumbrance, or a lease that:

(1) was consummated before the commission issued the order; and

(2) involved a bona fide purchaser, an encumbrancer, or a tenant who did not have actual notice of the finding of reasonable cause filed under this article.