Indiana § 36-8-22-14 - Deficit financing prohibited
Full text of Indiana Indiana Code § 36-8-22-14 — Deficit financing prohibited, with citation guidance and answers to common questions.
§ 36-8-22-14. Deficit financing prohibited
Sec. 14. (a) As used in this section, "deficit financing" means making expenditures that exceed the money legally available to an employer in any budget year.
(b) An employer may not enter into an agreement under section 12 of this chapter that will place the employer in a position of deficit financing. An agreement is voidable to the extent that an employer must engage in deficit financing to comply with the agreement.
As added by P.L.48-2007, SEC.1.
Frequently Asked Questions About Indiana § 36-8-22-14
What does Indiana Code § 36-8-22-14 cover?
Section 36-8-22-14 ("Deficit financing prohibited") 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 § 36-8-22-14?
A common citation format is "Indiana Code § 36-8-22-14" (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 § 36-8-22-14 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.