Indiana Statutes
§ 5-28-20-11 — Obligation of program not a debt of state; loans from fund not lending of state credit
Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 28 INDIANA ECONOMIC DEVELOPMENT·Ch. 20 Small and Minority Business Financial Assistance
(a)An obligation of the program for losses
on loans resulting from death, default, bankruptcy, or total or
permanent disability of borrowers is not a debt of the state but is
payable solely from the fund.
(b)The making of loans from the fund does not constitute the
lending of credit by the state for purposes of any other statute or the
Constitution of the State of Indiana.
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Indiana § 5-28-20-11 (Obligation of program not a debt of state; loans from fund not lending of state credit) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
As added by P.L.4-2005, SEC.34.
Nearby Sections
15
§ 5-1-1-1
Validation§ 5-1-1-2
Repealed§ 5-1-10-1
Issuance; purpose; restrictions§ 5-1-11-7
Restrictions on powers§ 5-1-11.5-1
"ADM"§ 5-1-11.5-2
"Bonds"§ 5-1-11.5-3
Application to certain school corporations§ 5-1-12-1
"Municipal corporation" defined