Indiana Code 5-28-30-13. Premiums; fees; charges
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Sec. 13. The corporation may establish:
(2) loan application, placement, origination, commitment, administrative, processing, or other fees or charges in connection with the corporation’s powers under section 17 of this chapter.
(1) guarantee premiums for a guarantee under section 10 of this chapter of any loan or lease outstanding at the beginning of each year or at the time the guarantee is entered into; and
Terms Used In Indiana Code 5-28-30-13
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- developer: means a person who proposes to enter, or has entered, into a financing agreement with the corporation for an industrial development project and who has entered into a separate agreement with some other persons for the substantial use of the facilities financed. See Indiana Code 5-28-30-1.5
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- user: means a person who has entered into a financing agreement with the corporation or lender or a contract for use with the developer or lender in contemplation of its use of an industrial development project. See Indiana Code 5-28-30-8.5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
These premiums, fees, or charges are payable in amounts or based upon formulas established by the corporation and may be payable, at the election of the corporation, in whole or in part, in the form of cash, shares of stock, warrants for the purchase of shares of stock, or other securities, property, or rights acceptable to the corporation. These premiums, fees, or charges shall be payable by the developer or user to the corporation in a manner prescribed by the corporation.
As added by P.L.162-2007, SEC.25.