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.