Sec. 17. (a) A corporation qualifying as a lessor corporation under this chapter may issue and sell bonds and other securities. Mortgage bonds issued by a lessor corporation that are a first lien on the leased property are legal and proper investments for state banks and trust companies, insurance companies, and fiduciaries. (b) Bonds and other securities issued by a lessor corporation under this section need not be sold under IC 5-1-11 , and approval of the securities commissioner is not required in connection with the issuance and sale of the bonds. [Pre-2006 Recodification Citation: 21-5-12-12.]
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