Indiana Code 21-35-2-17. Liability of state or institutions for indebtedness limited
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Sec. 17. Indebtedness, a bond, or an obligation incurred or created under the authority of this chapter may not be or become:
(2) a lien or charge against the property or funds of a state educational institution;
(1) an indebtedness of or liability against the state of Indiana or a state educational institution; or
Terms Used In Indiana Code 21-35-2-17
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
except to the extent of the property or income pledged or mortgaged as authorized.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-3.]
As added by P.L.2-2007, SEC.276.