Indiana Code 13-11-2-48. “Creditor”
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Sec. 48. “Creditor”, for purposes of IC 13-25-4-8, means, with respect to a facility, a person who:
(2) has an interest in the facility to secure an extension of credit; or
(1) has extended credit to an owner or operator of the facility;
Terms Used In Indiana Code 13-11-2-48
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
(3) has acquired title or a right to title to the facility:
(A) upon default;
(B) at foreclosure; or
(C) in lieu of foreclosure as a result of an extension of credit secured by an interest in the facility, unless the extension of credit was solely for the purpose of avoiding environmental liability.
[Pre-1996 Recodification Citations: 13-7-8.7-8(a); 13-7-20.1-14(a).]
As added by P.L.1-1996, SEC.1. Amended by P.L.90-1998, SEC.1.