Indiana Code 24-4.5-5-205. Refunds and penalties as set-off to obligation
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Terms Used In Indiana Code 24-4.5-5-205
- 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. 205. Refunds and Penalties as Set-Off to Obligation — Refunds or penalties to which the debtor is entitled pursuant to this Part may be set off against the debtor’s obligation, and may be raised as a defense to a suit on the obligation without regard to the time limitations prescribed by this Part.
Formerly: Acts 1971, P.L.366, SEC.6.