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 § 28-2-5-2

Art. 2BANKS

Ch. 5Disaster Funds─Low Cost Loans

This text of Indiana § 28-2-5-2 (Determination of need for low cost loans; interest rate) 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 § 28-2-5-2 (2026).

Text

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.