Indiana § 5-28-5-15 - Powers in the event of default
Full text of Indiana Indiana Code § 5-28-5-15 — Powers in the event of default, with citation guidance and answers to common questions.
§ 5-28-5-15. Powers in the event of default
Sec. 15. The corporation may take assignments of accounts receivable, loans, guarantees, insurance, notes, mortgages, security agreements securing notes, and other forms of security, attach, seize, or take title by foreclosure or conveyance to an economic development project when a guaranteed loan on the economic development project is clearly in default and when in the opinion of the corporation such an acquisition is necessary to safeguard the industrial development project guaranty fund, and sell, or on a temporary basis, lease or rent the economic development project for any use.
As added by P.L.162-2007, SEC.22. Amended by P.L.189-2018, SEC.43.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 5-28-5-15
What does Indiana Code § 5-28-5-15 cover?
Section 5-28-5-15 ("Powers in the event of default") 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 § 5-28-5-15?
A common citation format is "Indiana Code § 5-28-5-15" (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 § 5-28-5-15 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.