Terms Used In Indiana Code 5-10.4-4-9

  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
   Sec. 9. The board shall determine the actuarial liability resulting from the years of service of the members in the fund and shall determine the state’s share of the liability. The board shall distribute the payment of this liability over a period of years that will be equitable to the state and the fund, not to exceed thirty (30) years.

[Pre-2006 Education Finance Recodification Citation: 21-6.1-4-7.]

As added by P.L.2-2006, SEC.28. Amended by P.L.111-2015, SEC.4.