Indiana Code Title 8. Utilities and Transportation § 8-1-40.5-11

Sec. 11. (a) Securitization property consists of the rights and interests of an electric utility, or its successor, under a financing order, including the following:

(b) Securitization property constitutes a present property right for purposes of contracts concerning the sale or pledge of property, even if the imposition and collection of securitization charges depend on further acts of the electric utility or others that have not yet occurred.  The securitization property continues to exist, and the financing order under which the securitization property arises remains in effect, for the same period as the pledge of the state under section 16(b) of this chapter.

(c) All revenues and collections resulting from securitization charges constitute proceeds of only the securitization property arising from the financing order.