Indiana § 28-10-2-21 - Selection or use of recommended benchmark replacement as substantial performance
Full text of Indiana Indiana Code § 28-10-2-21 — Selection or use of recommended benchmark replacement as substantial performance, with citation guidance and answers to common questions.
§ 28-10-2-21. Selection or use of recommended benchmark replacement as substantial performance
Sec. 21. The selection or use of a recommended benchmark replacement as a benchmark replacement under or with respect to a contract, security, or instrument by operation of this chapter constitutes:
(1) a commercially reasonable replacement for and a commercially substantial equivalent to LIBOR;
(2) a reasonable, comparable, or analogous term for LIBOR under or with respect to the contract, security, or instrument;
(3) a replacement that is based on a methodology or information that is similar or comparable to LIBOR; and
(4) substantial performance by any person of any right or obligation relating to or based on LIBOR under or with respect to the contract, security, or instrument.
As added by P.L.67-2022, SEC.1.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-10-2-21
What does Indiana Code § 28-10-2-21 cover?
Section 28-10-2-21 ("Selection or use of recommended benchmark replacement as substantial performance") 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 § 28-10-2-21?
A common citation format is "Indiana Code § 28-10-2-21" (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 § 28-10-2-21 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.