Limitation on state or institutional liability for indebtedness

Ind. Code § 21-35-3-18
in effect
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Sec. 18. Indebtedness, a bond, or an obligation incurred or created under the authority of this chapter may not be or become a lien, charge, or liability against: (1) the state of Indiana; (2) the state educational institution issuing the bonds; or (3) the property or funds of the state or the state educational institution issuing the bonds, except to the extent of the property or income authorized to be pledged or mortgaged. [Pre-2007 Higher Education Recodification Citation: 20-12-8-3.] As added by P.L.2-2007, SEC.276.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/21Fetched: 10/17/2026

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