Sec. 27. The corporation shall pledge the following to the lender:
(1) The money in the reserve fund will be available to pay claims under section 29 of this chapter.
(2) The lender will have a first security interest in the money in the reserve fund to pay the claims.
(3) The corporation will not encumber or pledge the money to any other party.
As added by P.L.162-2007, SEC.24.
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