Indiana § 5-13-12-10 - Subordination of valid security agreement, mortgage, combinations thereof, or other appropriate document securing direct obligations
Full text of Indiana Indiana Code § 5-13-12-10 — Subordination of valid security agreement, mortgage, combinations thereof, or other appropriate document securing direct obligations, with citation guidance and answers to common questions.
§ 5-13-12-10. Subordination of valid security agreement, mortgage, combinations thereof, or other appropriate document securing direct obligations
Sec. 10. With regard to direct obligations of the Indiana finance authority that have been issued in conjunction with an economic development project undertaken by the authority, including those obligations that are guaranteed by the board under this chapter or purchased by the board under section 7(d)(8) of this chapter, the board may upon the request of the authority permit a subordination of any valid security agreement, mortgage, combinations thereof, or other appropriate document securing the direct obligations, if the board in its discretion determines that the subordination is reasonably necessary to accomplish the objectives of the economic development project.
As added by P.L.19-1987, SEC.14. Amended by P.L.11-1990, SEC.109; P.L.235-2005, SEC.83; P.L.189-2018, SEC.38.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 5-13-12-10
What does Indiana Code § 5-13-12-10 cover?
Section 5-13-12-10 ("Subordination of valid security agreement, mortgage, combinations thereof, or other appropriate document securing direct obligations") 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 § 5-13-12-10?
A common citation format is "Indiana Code § 5-13-12-10" (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 § 5-13-12-10 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.