Ind. Code ch. 5-1.5-1

in effect

Ind. Code § 5-1.5-1-1 Application

Sec. 1. The definitions in this chapter apply throughout this article. As added by P.L.25-1984, SEC.1.

Ind. Code § 5-1.5-1-2 "Bank"

Sec. 2. "Bank" refers to the Indiana bond bank established under IC 5-1.5-2-1. As added by P.L.25-1984, SEC.1.

Ind. Code § 5-1.5-1-3 "Board"

Sec. 3. "Board" refers to the board of directors established under IC 5-1.5-2-2. As added by P.L.25-1984, SEC.1.

Ind. Code § 5-1.5-1-4 "Bond"

Sec. 4. "Bond" means a bond of the bank issued under this article. As added by P.L.25-1984, SEC.1.

Ind. Code § 5-1.5-1-5 "Financial institution"

Sec. 5. "Financial institution" means a financial institution as defined in IC 28-1-1. As added by P.L.25-1984, SEC.1.

Ind. Code § 5-1.5-1-6 "Holder"

Sec. 6. "Holder" means a person who is: (1) the bearer of any outstanding bond or note registered to bearer or not registered; or (2) the registered owner of any outstanding bond or note that is registered other than to bearer. As added by P.L.25-1984, SEC.1.

Ind. Code § 5-1.5-1-7 "Note"

Sec. 7. "Note" refers to a note of the bank issued under this article. As added by P.L.25-1984, SEC.1.

Ind. Code § 5-1.5-1-8 "Qualified entity"

Sec. 8. "Qualified entity" means: (1) a political subdivision (as defined in IC 36-1-2-13); (2) a state educational institution; (3) a leasing body (as defined in IC 5-1-1-1(a)); (4) a not-for-profit utility (as defined in IC 8-1-2-125); (5) any rural electric membership corporation organized under IC 8-1-13; (6) any corporation that was organized in 1963 under Acts 1935, c. 157 and that engages in the generation and transmission of electric energy; (7) any communications cooperative corporation formed under IC 8-1-17; (8) any commission, authority, or authorized body of any qualified entity; (9) any organization, association, or trust with members, participants, or beneficiaries that are all individually qualified entities; (10) any commission, authority, or instrumentality of the state; (11) any other participant (as defined in IC 5-1.2-2-54); (12) a charter school established under IC 20-5.5 (before its repeal) or IC 20-24; (13) a volunteer fire department (as defined in IC 36-8-12-2); or (14) a development authority (as defined in IC 36-7.6-1-8). As added by P.L.25-1984, SEC.1. Amended by P.L.43-1985, SEC.1; P.L.46-1987, SEC.3; P.L.48-1989, SEC.1; P.L.37-1991, SEC.1; P.L.132-1999, SEC.1; P.L.179-2002, SEC.2; P.L.50-2003, SEC.1; P.L.2-2007, SEC.70; P.L.232-2007, SEC.1; P.L.189-2018, SEC.27; P.L.81-2020, SEC.1; P.L.189-2023, SEC.1.

Ind. Code § 5-1.5-1-9 "Reserve fund"

Sec. 9. "Reserve fund" means a reserve fund established under IC 5-1.5-5-1. As added by P.L.25-1984, SEC.1. Amended by P.L.43-1985, SEC.2.

Ind. Code § 5-1.5-1-10 "Security"

Sec. 10. "Security" means: (1) a bond, note, or evidence of indebtedness issued by a qualified entity; (2) a lease or certificate or other evidence of participation in the lessor's interest in and rights under a lease with a qualified entity; (3) an obligation of a qualified entity under an agreement between the qualified entity and the bank; (4) an agreement executed by a qualified entity under IC 20-49-4 or IC 20-49-10; or (5) an assignment agreement executed by a qualified entity under IC 5-1.5-8-5.1(b)(1). As added by P.L.25-1984, SEC.1. Amended by P.L.43-1985, SEC.3; P.L.30-1986, SEC.1; P.L.46-1987, SEC.4; P.L.28-1992, SEC.1; P.L.2-2006, SEC.9; P.L.259-2019, SEC.3.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026