Indiana § 28-2-5-2 Determination of need for low cost loans; interest rate

Indiana Statutes

§ 28-2-5-2 — Determination of need for low cost loans; interest rate

Indiana·Art. 2 BANKS·Ch. 5 Disaster Funds─Low Cost Loans

If the board of public depository determines that
low cost loans are needed for use of the victims of the disaster it shall,
by rule or regulation, establish interest rates of not less than one per
cent (1%) nor more than five per cent (5%) for terms of not less than
six (6) months nor more than seventy-two (72) months' duration, unless
the board in anticipation of the possibility of any such disaster, has, in
the manner provided by law, already put into effect such rules and
regulations in compliance with the provisions of this chapter.
Formerly: Acts 1967, c.148, s.2. As amended by Acts 1979,
P.L.264, SEC.1.

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If the board of public depository determines that
low cost loans are needed for use of the victims of the disaster it shall,
by rule or regulation, establish interest rates of not less than one per
cent (1%) nor more than five per cent (5%) for terms of not less than
six (6) months nor more than seventy-two (72) months' duration, unless
the board in anticipation of the possibility of any such disaster, has, in
the manner provided by law, already put into effect such rules and
regulations in compliance with the provisions of this chapter.
Formerly: Acts 1967, c.148, s.2. As amended by Acts 1979,
P.L.264, SEC.1.

Indiana § 28-2-5-2 (Determination of need for low cost loans; interest rate) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.