Indiana § 15-14-1-11 Power to borrow; interest; mortgages; bond issue

Indiana Statutes

§ 15-14-1-11 — Power to borrow; interest; mortgages; bond issue

Indiana § 15-14-1-11

Art. 14AGRICULTURAL FAIRS, ASSOCIATIONS, AND

Ch. 1Organization of Interstate Fairs

This text of Indiana § 15-14-1-11 (Power to borrow; interest; mortgages; bond issue) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 15-14-1-11 (2026).

Text

(a)A corporation incorporated under this chapter may do the following:

(1)Borrow not more than two hundred thousand dollars ($200,000) at a rate of interest not to exceed six percent (6%) per annum.

(2)Mortgage its property to secure the repayment of the loan.

(3)Issue bonds for not more than two hundred thousand dollars ($200,000).

(b)Bonds issued under subsection (a) must:

(1)not exceed a duration of twenty (20) years;

(2)have interest bearing coupons affixed; and

(3)be secured by mortgage on the property of the corporation. [Pre-2008 Recodification Citation: 15-1-2-11.]

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(a) A corporation incorporated under this
chapter may do the following:
(1) Borrow not more than two hundred thousand dollars
($200,000) at a rate of interest not to exceed six percent (6%) per
annum.
(2) Mortgage its property to secure the repayment of the loan.
(3) Issue bonds for not more than two hundred thousand dollars
($200,000).
(b) Bonds issued under subsection (a) must:
(1) not exceed a duration of twenty (20) years;
(2) have interest bearing coupons affixed; and
(3) be secured by mortgage on the property of the corporation.
[Pre-2008 Recodification Citation: 15-1-2-11.]