Liability of state or institutions for indebtedness limited

Sec. 17. 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.