Indiana Code 14-34-7-0.5. “Collateral” defined
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Sec. 0.5. As used in this chapter, “collateral” means the actual or constructive deposit, as appropriate, with the director of one (1) or more of the following types of property in support of a self-bond:
(2) Securities backed by the full faith and credit of the United States government, or state government securities, that are:
(1) A perfected, first-lien security interest in favor of the department of natural resources in real property located in Indiana that meets the requirements of this chapter.
Terms Used In Indiana Code 14-34-7-0.5
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
(A) acceptable to;
(B) endorsed to the order of; and
(C) placed in the possession of;
the director.
(3) Personal property that is located in Indiana and owned by the applicant, the market value of which is more than one million dollars ($1,000,000) per property unit.
As added by P.L.176-1995, SEC.8.