Indiana § 20-27-4-3 - Security agreements; appropriation
Full text of Indiana Indiana Code § 20-27-4-3 — Security agreements; appropriation, with citation guidance and answers to common questions.
§ 20-27-4-3. Security agreements; appropriation
Sec. 3. Before a security agreement is executed, an appropriation for the amount of the purchase price must be made. The appropriation is made in the same manner as any other appropriation, except that the amount of the appropriation is not limited by the amount of funds available at the time of the execution or the amount of funds to be raised by a tax levy effective at the time of the execution. A petition to borrow, a notice to taxpayers, or other formality is not necessary, except:
(1) as specifically provided in this chapter; and
(2) as may be required by law for the issuance of general obligation bonds.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-9.1-6-3.]
As added by P.L.1-2005, SEC.11.
Frequently Asked Questions About Indiana § 20-27-4-3
What does Indiana Code § 20-27-4-3 cover?
Section 20-27-4-3 ("Security agreements; appropriation") 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 § 20-27-4-3?
A common citation format is "Indiana Code § 20-27-4-3" (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 § 20-27-4-3 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.