Indiana § 20-47-3-17 Lessor corporation; sale of bonds and securities; mortgage bonds

Indiana Statutes

§ 20-47-3-17 — Lessor corporation; sale of bonds and securities; mortgage bonds

Indiana § 20-47-3-17

Title 20EDUCATION

Art. 47RELATED ENTITIES; HOLDING COMPANIES;

Ch. 3Private Holding Companies

This text of Indiana § 20-47-3-17 (Lessor corporation; sale of bonds and securities; mortgage bonds) 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 § 20-47-3-17 (2026).

Text

(a)A corporation qualifying as a lessor corporation under this chapter may issue and sell bonds and other securities. Mortgage bonds issued by a lessor corporation that are a first lien on the leased property are legal and proper investments for state banks and trust companies, insurance companies, and fiduciaries.

(b)Bonds and other securities issued by a lessor corporation under this section need not be sold under IC 5-1-11, and approval of the securities commissioner is not required in connection with the issuance and sale of the bonds. [Pre-2006 Recodification Citation: 21-5-12-12.]

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(a) A corporation qualifying as a lessor
corporation under this chapter may issue and sell bonds and other
securities. Mortgage bonds issued by a lessor corporation that are a first
lien on the leased property are legal and proper investments for state
banks and trust companies, insurance companies, and fiduciaries.
(b) Bonds and other securities issued by a lessor corporation under
this section need not be sold under IC 5-1-11, and approval of the
securities commissioner is not required in connection with the issuance
and sale of the bonds.
[Pre-2006 Recodification Citation: 21-5-12-12.]