Indiana § 21-34-7-4 - Proceeds of a grant anticipation loan
Full text of Indiana Indiana Code § 21-34-7-4 — Proceeds of a grant anticipation loan, with citation guidance and answers to common questions.
§ 21-34-7-4. Proceeds of a grant anticipation loan
Sec. 4. The board of trustees of a state educational institution shall apply the proceeds of any grant anticipation notes to those items of cost for which the grant has been allocated by the granting agencies. The purchaser of any notes:
(1) is not liable for any improper use of the proceeds; and
(2) does not have to insure that the amount of the loan stays within the maximum limits specified in section 2 of this chapter as grant funds are received by the state educational institution.
[Pre-2007 Higher Education Recodification Citation: 20-12-6-8.5(d).]
As added by P.L.2-2007, SEC.275.
IC 21-34-8Chapter 8. Bonds: Liability for Debt; Tax Exempt Status; Eligibility as Investments
21-34-8-1Liability of trustees for indebtedness limited 21-34-8-2Liability of state or institutions for indebtedness limited 21-34-8-3Tax exemption 21-34-8-4Investments; deposits
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 21-34-7-4
What does Indiana Code § 21-34-7-4 cover?
Section 21-34-7-4 ("Proceeds of a grant anticipation loan") 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 § 21-34-7-4?
A common citation format is "Indiana Code § 21-34-7-4" (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 § 21-34-7-4 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.