Indiana Code 8-21-11-11. Default on loan repayments; withholding of state funds payable to recipient
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Terms Used In Indiana Code 8-21-11-11
- loan fund: refers to the airport development revolving loan fund. See Indiana Code 8-21-11-3
Sec. 11. If a loan recipient fails to make any repayments of a loan, the state comptroller shall withhold the repayment amount from any other money payable by the state to the recipient. The amount withheld shall be transferred to the loan fund to the credit of the recipient.
As added by P.L.34-1990, SEC.2. Amended by P.L.9-2024, SEC.301.