Sec. 14. (a) A loan under this chapter must be secured by liens on collateral at the highest level of priority that can accommodate the borrower’s ability to raise sufficient debt and equity capital.

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Terms Used In Indiana Code 5-28-21-14

  • 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.
     (b) A financial institution holding an obligation that is guaranteed under this chapter must adequately secure the obligation.

As added by P.L.4-2005, SEC.34.

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