Sec. 11. If a loan recipient fails to make any repayments of a loan, the auditor of state 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.
Structure Indiana Code
Title 8. Utilities and Transportation
Chapter 11. Airport Development Program
8-21-11-2. "Grant Fund" Defined
8-21-11-3. "Loan Fund" Defined
8-21-11-4. Grant Fund; Revolving Loan Fund; Administration
8-21-11-5. Program to Foster Airport Development; Components; Rules
8-21-11-6. Eligibility for Grant or Loan
8-21-11-7. Allocation of Grant Funds
8-21-11-8. Allocation of Loan Funds; Maximum Amount
8-21-11-10. Repayment of Loans; Source
8-21-11-11. Default on Loan Repayments; Withholding of State Funds Payable to Recipient