"Creditor"

Sec. 48. "Creditor", for purposes of IC 13-25-4-8, means, with respect to a facility, a person who: (1) has extended credit to an owner or operator of the facility; (2) has an interest in the facility to secure an extension of credit; or (3) has acquired title or a right to title to the facility: (A) upon default; (B) at foreclosure; or (C) in lieu of foreclosure as a result of an extension of credit secured by an interest in the facility, unless the extension of credit was solely for the purpose of avoiding environmental liability. [Pre-1996 Recodification Citations: 13-7-8.7-8(a); 13-7-20.1-14(a).] As added by P.L.1-1996, SEC.1. Amended by P.L.90-1998, SEC.1.