Indiana Code 5-28-30-18. Proceeds of sales
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Terms Used In Indiana Code 5-28-30-18
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- guaranty fund: refers to the industrial development project guaranty fund created by section 9 of this chapter. See Indiana Code 5-28-30-2
- guaranty program: means the program described in section 10 of this chapter under which the corporation guarantees parts of particular mortgages, security agreements, leases, or loans for working capital with funds available from the guaranty fund. See Indiana Code 5-28-30-3
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 18. All proceeds received by the corporation or the Indiana finance authority from the disposal by sale or in some other manner of property acquired in connection with the guaranty program or otherwise under this chapter shall be credited to the guaranty fund.
As added by P.L.162-2007, SEC.25.