1. (a) Except as otherwise provided by law, a school corporation may not pay from the fund the principal of emergency and temporary loans obtained for the benefit of any other fund.

2. (b) Except as provided in IC 20-48-1-7 and IC 20-48-1-9 , payment of interest on emergency and temporary loans must be received in and disbursed from the fund.

   [Pre-2006 Recodification Citation: 21-2-4-2 part.]

As added by P.L.2-2006, SEC.163.