Indiana Statutes
§ 5-28-21-14 — Loan security
Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 28 INDIANA ECONOMIC DEVELOPMENT·Ch. 21 Small Business Incubator Program
(a)A loan under this chapter must be
secured by liens on collateral at the highest level of priority that can
accommodate the borrower's ability to raise sufficient debt and equity
capital.
(b)A financial institution holding an obligation that is guaranteed
under this chapter must adequately secure the obligation.
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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Repealed§ 5-1-10-1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