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Terms Used In Indiana Code 21-9-10-3

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
   Sec. 3. This article may not be construed as an obligation of the state or a college or university to assume any responsibility for fulfilling any obligation of the authority or any education savings program.

As added by P.L.165-1996, SEC.1. Amended by P.L.2-2007, SEC.251.