Indiana Code 21-16-4-5. Contracts and guaranty agreements
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Terms Used In Indiana Code 21-16-4-5
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
Sec. 5. The commission may enter into contracts and guaranty agreements with approved lenders, state governmental agencies, other corporations, and federal governmental agencies, including agreements for federal insurance of losses resulting from death, default, bankruptcy, or total and permanent disability of borrowers.
[Pre-2007 Higher Education Recodification Citation: 20-12-21.1-2(7).]
As added by P.L.2-2007, SEC.257.