Section 28-10-2-10 - "LIBOR discontinuance event"(a) As used in this chapter, "LIBOR discontinuance event" means the earliest to occur of any of the following:(1) A public statement or publication of information that:(A) is made by, or on behalf of, the administrator of LIBOR;(B) announces that the administrator has ceased or will cease to provide LIBOR, whether permanently or indefinitely; and(C) when made, there is no successor administrator that will continue to provide LIBOR.(2) A public statement or publication of information that:(A) is made by the regulatory supervisor for the administrator of LIBOR, the United States Federal Reserve System, an insolvency official with jurisdiction over the administrator of LIBOR, a resolution authority with jurisdiction over the administrator of LIBOR, or a court or entity with similar insolvency or resolution authority over the administrator of LIBOR;(B) states that the administrator of LIBOR has ceased or will cease to provide LIBOR, whether permanently or indefinitely; and(C) when made, there is no successor administrator that will continue to provide LIBOR.(3) A public statement or publication of information that:(A) is made by the regulatory supervisor for the administrator of LIBOR; and(B) announces that LIBOR is no longer representative.(b) With respect to a particular contract, security, or instrument, the term does not include a public statement or publication of information that affects one (1) or more tenors of LIBOR in either of the following circumstances:(1) If: (A) the contract, security, or instrument: (i) provides for only one (1) tenor of LIBOR; and(ii) requires interpolation; and(B) the tenor provided for can be interpolated from LIBOR tenors that are not affected by the public statement or publication of information.(2) If:(A) the contract, security, or instrument permits a party to choose from more than one (1) tenor of LIBOR; and(B) any of the specified tenors:(i) is not affected by the public statement or publication of information; or(ii) can be interpolated from LIBOR tenors that are not affected by the public statement or publication of information, if the contract, security, or instrument requires interpolation.Added by P.L. 67-2022,SEC. 1, eff. 3/10/2022.