Sec. 23. Upon execution of an agreement between the lender and the corporation, the corporation shall establish a reserve fund account with the lender in the name of the corporation for the purpose of receiving all required premium charges to be paid by the lender and the borrower and transfers made by the corporation under this chapter.
As added by P.L.162-2007, SEC.24.
Structure Indiana Code
Title 5. State and Local Administration
Article 28. Indiana Economic Development Corporation
Chapter 29. Capital Access Program
5-28-29-2. "Amount"; "Proceeds"
5-28-29-4. "Capital Access Account"
5-28-29-10. "Passive Real Estate Ownership"
5-28-29-13. Establishment; Purpose
5-28-29-15. Lender Eligibility
5-28-29-18. Loan Enrollment; Lender Actions
5-28-29-19. Loan Enrollment; Corporation Actions
5-28-29-20. Loan Enrollment; Partial Coverage Under the Program
5-28-29-22. Effect of Zero Balances; Effect of Recovery Under the Bankruptcy Laws
5-28-29-23. Creation of Reserve Fund Accounts
5-28-29-24. Sufficient Funds Required
5-28-29-26. Reserve Fund; Corporation Control
5-28-29-27. Reserve Fund; Corporation Pledges
5-28-29-28. Reserve Fund; Transaction Reports; Records
5-28-29-30. Claims; Processing
5-28-29-31. Claims; Subsequent Lender Recovery
5-28-29-32. Claims; Subrogation