Section 14-27-5-7 - Court approval of loan If at the hearing the court finds that:
(1) the loan as proposed in the petition is necessary for the accomplishment of the purposes set forth in this chapter; and(2) the terms and conditions are reasonable and probably are as beneficial to accomplish the purposes as would be obtainable in private competitive financial markets; the court shall approve the petition and authorize the board of directors to enter into the loan agreement.
Pre-1995 Recodification Citation: 13-2-29-1(b) part.
As added by P.L. 1-1995, SEC.20.