§ 15-12-2-5 — Director's powers; delegation

Indiana § 15-12-2-5

• Jurisdiction: Indiana
• Art. 12: AGRICULTURAL ASSISTANCE
• Ch. 2: Indiana Rural Rehabilitation Corporation

Text

(a) The director may do the following:
(1) Collect, compromise, adjust, or cancel claims and obligations
arising out of or administered under:
(A) this chapter; or
(B) any mortgage, lease, contract, or agreement entered into or
administered under this chapter.
(2) If in the director's judgment it is necessary and advisable,
pursue a claim or an obligation described in subdivision (1) to
final collection in any court having jurisdiction.
(3) Bid for and purchase at any execution, foreclosure, or other
sale or otherwise acquire property:
(A) on which the director has a lien by reason of a judgment or
execution; or
(B) that is pledged, mortgaged, or conveyed to secure or that
otherwise secures any loan or other indebtedness owing to or
acquired by the director under this chapter.
(4) Accept title to any property purchased or acquired under this
section, operate or lease the property for a period considered
necessary to protect the investment in the property, and sell or
dispose of the property in a manner consistent with this chapter.
(b) The authority under this section shall be delegated by the
director to the United States Secretary of Agriculture with respect to
funds or assets authorized to be administered and used by the director
under agreements entered into under section 3 of this chapter.
[Pre-2008 Recodification Citation: 15-7-2-4.]

Legislative History

As added by P.L.2-2008, SEC.3.