Indiana § 5-13-12-10 Subordination of valid security agreement, mortgage, combinations
thereof, or other appropriate document securing direct obligations

Indiana Statutes

§ 5-13-12-10 — Subordination of valid security agreement, mortgage, combinations thereof, or other appropriate document securing direct obligations

Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 13 INVESTMENT OF PUBLIC FUNDS·Ch. 12 Board for Depositories

With regard to direct obligations of the
Indiana finance authority that have been issued in conjunction with an
economic development project undertaken by the authority, including
those obligations that are guaranteed by the board under this chapter or
purchased by the board under section 7(d)(8) of this chapter, the board
may upon the request of the authority permit a subordination of any
valid security agreement, mortgage, combinations thereof, or other
appropriate document securing the direct obligations, if the board in its
discretion determines that the subordination is reasonably necessary to
accomplish the objectives of the economic development project.

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With regard to direct obligations of the
Indiana finance authority that have been issued in conjunction with an
economic development project undertaken by the authority, including
those obligations that are guaranteed by the board under this chapter or
purchased by the board under section 7(d)(8) of this chapter, the board
may upon the request of the authority permit a subordination of any
valid security agreement, mortgage, combinations thereof, or other
appropriate document securing the direct obligations, if the board in its
discretion determines that the subordination is reasonably necessary to
accomplish the objectives of the economic development project.

Indiana § 5-13-12-10 (Subordination of valid security agreement, mortgage, combinations thereof, or other appropriate document securing direct obligations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.