Indebtedness, a bond, or an obligation incurred or created under the authority of this chapter may not be or become:(1) an indebtedness of or liability against the state of Indiana or a state educational institution; or(2) a lien or charge against the property or funds of a state educational institution;except to the extent of the property or income pledged or mortgaged as authorized.[Pre-2007 Higher Education Recodification Citation: 20-12-7-3.]As added by P.L.2-2007, SEC.276.
Indiana Legal Code