2011 Indiana Code
TITLE 5. STATE AND LOCAL ADMINISTRATION
ARTICLE 13. INVESTMENT OF PUBLIC FUNDS
CHAPTER 14. MISCELLANEOUS PROVISIONS

IC 5-13-14
Chapter 14. Miscellaneous Provisions

IC 5-13-14-1
Loan for proper conduct of business of state or political subdivision; limitation; pledge of deposits in closed depository
Sec. 1. (a) If the state or any political subdivision has public funds on deposit in a closed depository, the state or political subdivision may borrow an amount of money necessary for the proper conduct of the business of the state or political subdivision.
(b) The amount of money borrowed under subsection (a) may not exceed the amount of money the state or political subdivision has on deposit and unpledged in the closed depository at the time the loan is made.
(c) For the purpose of securing the payment of a loan made under this section, the state or any political subdivision, through the treasurer of state, county treasurer, or fiscal officer of any political subdivision other than a county, may pledge any or all of the deposits in the closed depository.
As added by P.L.19-1987, SEC.16.

IC 5-13-14-2
No liability for public servant for loss of funds in closed depository
Sec. 2. A public servant is not liable for loss of public funds in any closed depository if the funds have been deposited in the manner required by this article.
As added by P.L.19-1987, SEC.16. Amended by P.L.107-2011, SEC.2.

IC 5-13-14-3
Criminal liability of public servant for failure to deposit; liability on bond
Sec. 3. A public servant who knowingly or intentionally:
(1) fails to deposit public funds; or
(2) deposits or draws any check or negotiable order of withdrawal against the funds;
except in the manner prescribed in this article, commits a Class A misdemeanor. However, the offense is a Class D felony if the amount involved is at least seven hundred fifty dollars ($750), and a Class C felony if the amount involved is at least fifty thousand dollars ($50,000). The public servant also is liable upon the public servant's official bond for any loss or damage that may accrue.
As added by P.L.19-1987, SEC.16. Amended by P.L.107-2011, SEC.3.

IC 5-13-14-4
Failure to perform duty; Class B misdemeanor
Sec. 4. A public servant who knowingly or intentionally fails to perform any duty imposed upon the public servant by this article, other than a duty for which a penalty is imposed by section 3 of this

chapter, commits a Class B misdemeanor.
As added by P.L.19-1987, SEC.16. Amended by P.L.107-2011, SEC.4.