Indiana Code 36-9-37-20. Collection of delinquent assessments; interest penalties
Current as of: 2024 | Check for updates
|
Other versions
Sec. 20. (a) If any principal and interest, or an installment of principal and interest, is not paid in full when due, the municipal fiscal officer shall enforce payment of the following:
(2) A penalty of interest at the rate prescribed by subsection (b).
(1) The unpaid amount of principal and interest.
Terms Used In Indiana Code 36-9-37-20
- Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
(b) If payment is made after a default, the municipal fiscal officer shall also collect a penalty of interest on the delinquent amount at one-half (1/2) the rate prescribed by IC 6-1.1-37-9(b) for each six (6) month period, or fraction of a six (6) month period, from the date when payment should have been made.
As added by P.L.98-1993, SEC.8. Amended by P.L.67-2006, SEC.17; P.L.113-2010, SEC.157.