§ 5-28-20-10 — Duties of corporation

Indiana § 5-28-20-10

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 20: Small and Minority Business Financial Assistance

Text

The corporation shall do the following:
(1) Establish and implement the policies and procedures to be
used in the administration of this chapter.
(2) Enter into contracts and guarantee agreements, as necessary,
with approved lenders, state governmental agencies, corporations,
and United States governmental agencies, including agreements
for federal insurance of losses resulting from death, default,
bankruptcy, or total and permanent disability of borrowers.
(3) Establish criteria for awarding loans and loan guarantees from
the fund, and require that any loan or loan guarantee under this
chapter be disbursed and repaid in the manner that the
corporation prescribes.
(4) Accept, use, and disburse federal funds made available to the
corporation by the federal government for the purposes described
in this section.
(5) Take, hold, and administer, on behalf of any loan program and
for purposes of this chapter, property and money and the interest
and income derived from the property and money either
absolutely or in trust.
(6) Accept gifts, grants, bequests, devises, and loans for purposes
of this chapter.
(7) Adopt bylaws to implement this chapter.

Legislative History

As added by P.L.4-2005, SEC.34.