Indiana § 23-17-7-9 - Advancements or loans to corporation; return or repayment
Full text of Indiana Indiana Code § 23-17-7-9 — Advancements or loans to corporation; return or repayment, with citation guidance and answers to common questions.
§ 23-17-7-9. Advancements or loans to corporation; return or repayment
Sec. 9. A member may advance or loan money to the corporation that may be returned or repaid to the member at a time and under a condition that the corporation and the member agree. However, upon return or repayment, the member may not receive more than the principal amount of the money advanced or loaned, together with reasonable interest at a rate that is not in excess of market rate, whether fixed or variable, otherwise available without premium to the corporation under the same circumstances at the time of the advance or loan.
As added by P.L.179-1991, SEC.1.
IC 23-17-8Chapter 8. Resignation and Termination of Members
23-17-8-1Resignation; liability for obligations 23-17-8-2Expulsion, suspension, or termination; procedures; limitation of actions; liability for obligations 23-17-8-3Purchase of memberships or membership rights; public benefit or religious corporation; mutual benefit corporation
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 23-17-7-9
What does Indiana Code § 23-17-7-9 cover?
Section 23-17-7-9 ("Advancements or loans to corporation; return or repayment") 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 § 23-17-7-9?
A common citation format is "Indiana Code § 23-17-7-9" (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 § 23-17-7-9 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.