Indiana § 5-28-32-5 - Required loan agreement terms
Full text of Indiana Indiana Code § 5-28-32-5 — Required loan agreement terms, with citation guidance and answers to common questions.
§ 5-28-32-5. Required loan agreement terms
Sec. 5. With respect to any loan made under section 4 of this chapter, a loan agreement with the corporation must contain the following terms:
(1) A requirement that the loan proceeds be used for specified purposes consistent with and in furtherance of the purposes of the corporation under this article.
(2) The term of the loan, which must not be later than fifteen (15) years after the date of the loan.
(3) The repayment schedule.
(4) The interest rate or rates of the loan, which may include variations in the rate, but that may not be less than the amount necessary to cover all expenses of the corporation in making the loan.
(5) Any other terms and provisions that the corporation requires.
As added by P.L.162-2007, SEC.27.
IC 5-28-33Chapter 33. RepealedRepealed by P.L.177-2018, SEC.9.
IC 5-28-34Chapter 34. Green Industries Fund
5-28-34-1"Fund" 5-28-34-2"Green industry" 5-28-34-3Establishment of fund 5-28-34-4Application for grants or loans
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 5-28-32-5
What does Indiana Code § 5-28-32-5 cover?
Section 5-28-32-5 ("Required loan agreement terms") 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 § 5-28-32-5?
A common citation format is "Indiana Code § 5-28-32-5" (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 § 5-28-32-5 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.