Indiana § 28-2-5-2 - Determination of need for low cost loans; interest rate
Full text of Indiana Indiana Code § 28-2-5-2 — Determination of need for low cost loans; interest rate, with citation guidance and answers to common questions.
§ 28-2-5-2. Determination of need for low cost loans; interest rate
Sec. 2. If the board of public depository determines that low cost loans are needed for use of the victims of the disaster it shall, by rule or regulation, establish interest rates of not less than one per cent (1%) nor more than five per cent (5%) for terms of not less than six (6) months nor more than seventy-two (72) months' duration, unless the board in anticipation of the possibility of any such disaster, has, in the manner provided by law, already put into effect such rules and regulations in compliance with the provisions of this chapter.
Formerly: Acts 1967, c.148, s.2. As amended by Acts 1979, P.L.264, SEC.1.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-2-5-2
What does Indiana Code § 28-2-5-2 cover?
Section 28-2-5-2 ("Determination of need for low cost loans; 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 § 28-2-5-2?
A common citation format is "Indiana Code § 28-2-5-2" (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 § 28-2-5-2 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.