Indiana § 5-28-21-17 - Loan interest rate; determination
Full text of Indiana Indiana Code § 5-28-21-17 — Loan interest rate; determination, with citation guidance and answers to common questions.
§ 5-28-21-17. Loan interest rate; determination
Sec. 17. In order to establish a rate of interest for a loan under this chapter, the corporation shall select a nationally recognized index of municipal bond averages and a date not less than one (1) month nor more than two (2) months before the granting of the loan. The rate of interest on the loan must be one percent (1%) less than the average published on the date closest to the selected date by the selected nationally recognized index, rounded to the next lowest whole percent. The corporation may determine that the rounding down should be to a fraction of a percent that is a multiple of either one-tenth of one percent (0.1%) or one-fourth of one percent (0.25%).
As added by P.L.4-2005, SEC.34.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 5-28-21-17
What does Indiana Code § 5-28-21-17 cover?
Section 5-28-21-17 ("Loan interest rate; determination") 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 § 5-28-21-17?
A common citation format is "Indiana Code § 5-28-21-17" (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 § 5-28-21-17 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.