IC 20-42-1-10: Loans; required interest rate

Sec. 10. Subject to section 9 of this chapter, the:

(1) principal belonging to a fund; and

(2) accumulations to the principal of a fund held by a county;

must be loaned at four percent (4%) per annum. Loans made before June 1, 1943, with a rate of interest higher than four percent (4%) per annum must have an interest rate of four percent (4%) per annum.