Indiana § 13-25-4-8.2 - Lenders considered to participate in management
Full text of Indiana Indiana Code § 13-25-4-8.2 — Lenders considered to participate in management, with citation guidance and answers to common questions.
§ 13-25-4-8.2. Lenders considered to participate in management
Sec. 8.2. A person that is a lender and that holds evidence of ownership primarily to protect a security interest in a vessel or facility may be considered to participate in the management (as defined in IC 13-11-2-151.4) of the hazardous substance at the facility only if, while the borrower is still in possession of the vessel or facility encumbered by the security interest, the person:
(1) exercises decision making control over the environmental compliance related to the vessel or facility such that the person has undertaken responsibility for the hazardous substance handling or disposal practices related to the vessel or facility; or
(2) exercises control at a level comparable to that of a manager of the vessel or facility such that the person has assumed or manifested responsibility:
(A) for the overall management of the vessel or facility encompassing day to day decision making with respect to environmental compliance; or
(B) over all or substantially all of the operational functions (as distinguished from financial or administrative functions) of the vessel or facility other than the function of environmental compliance.
As added by P.L.90-1998, SEC.25.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 13-25-4-8.2
What does Indiana Code § 13-25-4-8.2 cover?
Section 13-25-4-8.2 ("Lenders considered to participate in management") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 13-25-4-8.2?
A common citation format is "Indiana Code § 13-25-4-8.2" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 13-25-4-8.2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.