Indiana Code 5-1.2-9-25. Guarantees; secured loans; reservation of funds
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Sec. 25. Before exercising any of the powers conferred by section 23 of this chapter, the authority may:
(2) require any type of security that the authority considers reasonable and necessary; or
(1) require that the loan involved be insured by a loan insurer or be guaranteed by a loan guarantor;
Terms Used In Indiana Code 5-1.2-9-25
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
(3) authorize the reservation of funds by lenders in the amount and subject to conditions as the authority considers reasonable and necessary under this chapter.
As added by P.L.189-2018, SEC.25.