IC 28-2-5
Chapter 5. Disaster Funds.Low Cost Loans
IC 28-2-5-1 Proclamation of disaster area; meeting of board of public
depository
Sec. 1. Within thirty (30) days after the governor has designated
any area or areas of the state of Indiana as disaster areas by his
proclamation, the board of public depository shall meet for the
purpose of determination as to whether low cost loans are needed by
the victims of the disaster. (Formerly: Acts 1967, c.148, s.1.)
IC 28-2-5-2 Determination of need for low cost loans; interest rate
Sec. 2. If the board of public depository determines that low cost
loans are needed for use of the victims of the disaster it shall, by rule
or regulation, establish interest rates of not less than one per cent
(1%) nor more than five per cent (5%) for terms of not less than six
(6) months nor more than seventy-two (72) months' duration, unless
the board in anticipation of the possibility of any such disaster, has,
in the manner provided by law, already put into effect such rules and
regulations in compliance with the provisions of this chapter. (Formerly: Acts 1967, c.148, s.2.) As amended by Acts 1979,
P.L.264, SEC.1.
IC 28-2-5-3 Deposit of matching state funds in disaster area bank
Sec. 3. The treasurer of state shall deposit in any bank in the
general area of the disaster an amount of interest-free state money
equal to the amount of the loan granted by the lending bank when the
bank has provided the treasurer of state with a copy of the loan
instrument showing the name of the borrower, amount of loan, rate
of interest and terms of loan. (Formerly: Acts 1967, c.148, s.3.)
IC 28-2-5
Chapter 5. Disaster Funds.Low Cost Loans
IC 28-2-5-1 Proclamation of disaster area; meeting of board of public
depository
Sec. 1. Within thirty (30) days after the governor has designated
any area or areas of the state of Indiana as disaster areas by his
proclamation, the board of public depository shall meet for the
purpose of determination as to whether low cost loans are needed by
the victims of the disaster. (Formerly: Acts 1967, c.148, s.1.)
IC 28-2-5-2 Determination of need for low cost loans; interest rate
Sec. 2. If the board of public depository determines that low cost
loans are needed for use of the victims of the disaster it shall, by rule
or regulation, establish interest rates of not less than one per cent
(1%) nor more than five per cent (5%) for terms of not less than six
(6) months nor more than seventy-two (72) months' duration, unless
the board in anticipation of the possibility of any such disaster, has,
in the manner provided by law, already put into effect such rules and
regulations in compliance with the provisions of this chapter. (Formerly: Acts 1967, c.148, s.2.) As amended by Acts 1979,
P.L.264, SEC.1.
IC 28-2-5-3 Deposit of matching state funds in disaster area bank
Sec. 3. The treasurer of state shall deposit in any bank in the
general area of the disaster an amount of interest-free state money
equal to the amount of the loan granted by the lending bank when the
bank has provided the treasurer of state with a copy of the loan
instrument showing the name of the borrower, amount of loan, rate
of interest and terms of loan. (Formerly: Acts 1967, c.148, s.3.)
IC 28-2-5
Chapter 5. Disaster Funds.Low Cost Loans
IC 28-2-5-1 Proclamation of disaster area; meeting of board of public
depository
Sec. 1. Within thirty (30) days after the governor has designated
any area or areas of the state of Indiana as disaster areas by his
proclamation, the board of public depository shall meet for the
purpose of determination as to whether low cost loans are needed by
the victims of the disaster. (Formerly: Acts 1967, c.148, s.1.)
IC 28-2-5-2 Determination of need for low cost loans; interest rate
Sec. 2. If the board of public depository determines that low cost
loans are needed for use of the victims of the disaster it shall, by rule
or regulation, establish interest rates of not less than one per cent
(1%) nor more than five per cent (5%) for terms of not less than six
(6) months nor more than seventy-two (72) months' duration, unless
the board in anticipation of the possibility of any such disaster, has,
in the manner provided by law, already put into effect such rules and
regulations in compliance with the provisions of this chapter. (Formerly: Acts 1967, c.148, s.2.) As amended by Acts 1979,
P.L.264, SEC.1.
IC 28-2-5-3 Deposit of matching state funds in disaster area bank
Sec. 3. The treasurer of state shall deposit in any bank in the
general area of the disaster an amount of interest-free state money
equal to the amount of the loan granted by the lending bank when the
bank has provided the treasurer of state with a copy of the loan
instrument showing the name of the borrower, amount of loan, rate
of interest and terms of loan. (Formerly: Acts 1967, c.148, s.3.)
