Indiana Statutes
§ 8-21-12-17 — Loan contracts; tax exemptions
Any loan contract issued under this chapter
is issued by a body corporate and politic of this state, but not a state
agency, and for essential public and governmental purposes. A loan
contract, the interest on it, the proceeds received by a holder from the
sale of a loan contract to the extent of the holder's cost of acquisition,
the proceeds received upon redemption before maturity, the proceeds
received at maturity, and the receipt of the interest and proceeds are
exempt from taxation as provided in IC 6-8-5.
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Legislative History
As added by P.L.28-1991, SEC.2.
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Repealed