Indiana § 20-49-4-16 - Maximum term of advance; educational technology program; prepayment; interest rate
Full text of Indiana Indiana Code § 20-49-4-16 — Maximum term of advance; educational technology program; prepayment; interest rate, with citation guidance and answers to common questions.
§ 20-49-4-16. Maximum term of advance; educational technology program; prepayment; interest rate
Sec. 16. (a) Money advanced to a school corporation or charter school for an educational technology program may be for a period not exceeding five (5) years. The school corporation or charter school to which an advance is made shall pay interest on the advance. Advances for educational technology programs may be prepaid at any time.
(b) The state board of finance shall periodically establish the rate or rates of interest payable on advances for educational technology programs as long as the established interest rate or rates:
(1) are not less than one percent (1%); and
(2) do not exceed four percent (4%).
[Pre-2006 Recodification Citation: 21-1-5-5(b).]
As added by P.L.2-2006, SEC.172. Amended by P.L.189-2023, SEC.51.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 20-49-4-16
What does Indiana Code § 20-49-4-16 cover?
Section 20-49-4-16 ("Maximum term of advance; educational technology program; prepayment; interest rate") 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 § 20-49-4-16?
A common citation format is "Indiana Code § 20-49-4-16" (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 § 20-49-4-16 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.