Indiana Code 5-28-21-15. Leased facilities; conditions
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Terms Used In Indiana Code 5-28-21-15
- incubator: means a facility in which space may be leased by a tenant and in which management provides access to business development services for use by tenants. See Indiana Code 5-28-21-3
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Sec. 15. A grant, loan, or loan guarantee for an incubator in a facility that is leased may be made only if the applicant intends to buy the facility. A loan or loan guarantee must be secured by a leasehold mortgage.
As added by P.L.4-2005, SEC.34.