Indiana § 5-28-8-10 - Applications for loans; repayment
Full text of Indiana Indiana Code § 5-28-8-10 — Applications for loans; repayment, with citation guidance and answers to common questions.
§ 5-28-8-10. Applications for loans; repayment
Sec. 10. (a) A qualified entity may apply to the corporation for a loan from the fund to be used for economic development programs.
(b) An amount loaned to a qualified entity is an obligation of the qualified entity and shall be repaid to the corporation within a time to be fixed by the corporation, not to exceed three (3) years.
(c) The corporation shall determine interest rates for the loans to be made under this section.
(d) Final disbursements of money under this section must be made with the approval of the state board of finance.
(e) If a qualified entity fails to make repayment of money loaned under this section, the amount payable may be:
(1) withheld by the state comptroller from money payable to the qualified entity and transferred to the fund; or
(2) recovered in an action by the state on relation of the corporation, prosecuted by the attorney general, in the circuit or superior court of the county in which the qualified entity is located.
As added by P.L.4-2005, SEC.34. Amended by P.L.9-2024, SEC.160.
IC 5-28-9Chapter 9. Industrial Development Program and Fund
5-28-9-1"Enterprise zone" 5-28-9-2"Governing body" 5-28-9-3"Industrial development program" 5-28-9-4"Information and high technology infrastructure" 5-28-9-5"Minority enterprise small business investment company" 5-28-9-6"Qualified entity" 5-28-9-7"Small business investment company" 5-28-9-8Findings 5-28-9-8.5Legalization of certain loans, loan agreements, and similar arrangements of department of commerce and qualified entities 5-28-9-9Fund established; purpose; administration 5-28-9-10Loans for approved programs; amount restriction; limitations 5-28-9-11Industrial development programs 5-28-9-12Loans to qualified entities; conditions 5-28-9-13Participation in program or project by entity; share of cost 5-28-9-14Priority rating of applicant for loan 5-28-9-15Loans; restrictions; ordinance requirement 5-28-9-16Revenue to pay annual loan installment and interest; levy of tax 5-28-9-17Failure to repay money lent; action to recover 5-28-9-18Appropriation 5-28-9-19Sale of notes or other debt obligations by a county, city, or town; deposit and use of proceeds 5-28-9-20Loan with simultaneous or successive sale of note or other obligation; legal investments
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 5-28-8-10
What does Indiana Code § 5-28-8-10 cover?
Section 5-28-8-10 ("Applications for loans; repayment") 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 § 5-28-8-10?
A common citation format is "Indiana Code § 5-28-8-10" (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 § 5-28-8-10 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.