405 IAC 2-10-9 Release; subordination

Sec. 9. (a) The office shall release a lien obtained under this rule within ten (10) business days after the county office of family and children receives notice that the member is no longer institutionalized and is living in his or her home. (b) A lien obtained under this rule is subordinate to the security interest of a financial institution as defined in IC 12-15-8.5 that loans money to the member provided that the member is able to establish to the satisfaction of the office that the funds were used for operating capital for the operation of the member's farm, the member's business, or the member's real property that is income-producing. (c) If the real property subject to the lien is sold, the office shall release its lien at the closing, and the lien shall attach to the net proceeds of the sale.