Sec. 11. (a) A loan under section 10 of this chapter from the fund is payable only from the amount of money remaining in the fund after the appropriations required by this chapter have been made.
(b) This section and section 10 of this chapter do not create an obligation of:
(1) the state; or
(2) the fund;
to honor any loan applications to the extent that the total amount of loans approved by the state board of finance exceeds the amount of money available for loans at the time loans are paid.
As added by P.L.380-1987(ss), SEC.3.
Structure Indiana Code
Title 4. State Offices and Administration
Article 10. State Funds Generally
Chapter 18. The Counter-Cyclical Revenue and Economic Stabilization Fund
4-10-18-2. Establishment; Administration by State Treasurer
4-10-18-3. Determination of Adjusted Personal Income and Annual Growth Rate
4-10-18-4. Annual Appropriation to and From General Fund; Determination of Amount
4-10-18-5. Annual Appropriation to and From General Fund; Certification of Amount; Transfer of Funds
4-10-18-6. Budget Reports; Statements of Actual or Estimated Transfers
4-10-18-7. Transfers; Adjustment
4-10-18-8. Excess Funds; Appropriations to State General Fund
4-10-18-9. General Fund Revenues; Shortfall; Transfers
4-10-18-10. Loan of Money From Fund; Application; Terms; Repayment; Eligible Entities
4-10-18-10-b. Loan of Money From Fund; Application; Terms; Repayment; Eligible Entities
4-10-18-11. Limitations on Loans
4-10-18-12. Appropriation to Underground Petroleum Storage Tank Excess Liability Trust Fund