Indiana § 5-28-29-28 Reserve fund; transaction reports; records

Indiana Statutes

§ 5-28-29-28 — Reserve fund; transaction reports; records

Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 28 INDIANA ECONOMIC DEVELOPMENT·Ch. 29 Capital Access Program

(a)If the reserve fund is not maintained with the lender, the corporation shall provide to the lender quarterly transaction reports indicating the following:

(1)The balance in the reserve fund.

(2)Payments and transfers into the reserve fund.

(3)Withdrawals from the reserve fund.

(4)Interest or income earned on money credited to the reserve fund.

(b)The records of the corporation with respect to all:

(1)payments and transfers into the reserve fund;

(2)withdrawals from the reserve fund; and

(3)interest or income earned on the money credited to the reserve fund; are available to the lender at the offices of the corporation during normal business hours.

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(a) If the reserve fund is not maintained with
the lender, the corporation shall provide to the lender quarterly
transaction reports indicating the following:
(1) The balance in the reserve fund.
(2) Payments and transfers into the reserve fund.
(3) Withdrawals from the reserve fund.
(4) Interest or income earned on money credited to the reserve
fund.
(b) The records of the corporation with respect to all:
(1) payments and transfers into the reserve fund;
(2) withdrawals from the reserve fund; and
(3) interest or income earned on the money credited to the reserve
fund;
are available to the lender at the offices of the corporation during
normal business hours.

Indiana § 5-28-29-28 (Reserve fund; transaction reports; records) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.