Indiana § 28-10-2-4 - "Benchmark replacement conforming changes"
Full text of Indiana Indiana Code § 28-10-2-4 — "Benchmark replacement conforming changes", with citation guidance and answers to common questions.
§ 28-10-2-4. "Benchmark replacement conforming changes"
Sec. 4. As used in this chapter, "benchmark replacement conforming changes" means any technical, administrative, or operational changes, alterations, or modifications that:
(1) are made to a contract, security, or instrument;
(2) are associated with and reasonably necessary for the use, adoption, calculation, or implementation of a recommended benchmark replacement; and
(3) either:
(A) have been selected or recommended by a relevant recommending body; or
(B) if, in the reasonable judgment of the calculating person for a particular contract, security, or instrument, the changes selected or recommended under clause (A):
(i) do not apply to the contract, security, or instrument; or
(ii) are insufficient to permit the administration and calculation of the recommended benchmark replacement;
consist of such other changes, alterations, or modifications that, in the reasonable judgment of the calculating person, are necessary to permit the administration and calculation of the recommended benchmark replacement in a manner consistent with market practice for substantially similar contracts, securities, or instruments and, to the extent practicable, in the manner in which the particular contract, security, or instrument was administered immediately before the LIBOR replacement date, and that would not result in a disposition of the contract, security, or instrument for United States federal income tax purposes.
As added by P.L.67-2022, SEC.1.
Frequently Asked Questions About Indiana § 28-10-2-4
What does Indiana Code § 28-10-2-4 cover?
Section 28-10-2-4 (""Benchmark replacement conforming changes"") 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 § 28-10-2-4?
A common citation format is "Indiana Code § 28-10-2-4" (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 § 28-10-2-4 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.