2006 Indiana Code - CHAPTER 8. DESIGNATION OF DEPOSITORIES
Chapter 8. Designation of Depositories
IC 5-13-8-1
Deposit of public funds; prerequisites
Sec. 1. (a) A political subdivision may deposit public funds in a
financial institution only if the financial institution:
(1) is a depository eligible to receive state funds; and
(2) has a principal office or branch that qualifies under section
9 of this chapter to receive public funds of the political
subdivision.
(b) The state board of finance shall make available information
concerning financial institutions eligible to receive state funds as
may be requested by a local board of finance. A local board of
finance may rely on certificates described in IC 5-13-9.5-1(d) in
determining to deposit public funds or reinvest public funds in the
financial institution.
As added by P.L.19-1987, SEC.10. Amended by P.L.5-1988, SEC.37;
P.L.66-1989, SEC.1; P.L.44-1990, SEC.2; P.L.2-1993, SEC.47;
P.L.74-1995, SEC.2; P.L.18-1996, SEC.7; P.L.46-1997, SEC.5.
