2015 Indiana Code TITLE 22. LABOR AND SAFETY ARTICLE 4. UNEMPLOYMENT COMPENSATION SYSTEM CHAPTER 27. MANAGEMENT OF FUNDS UPON DISCONTINUANCE OF UNEMPLOYMENT TRUST FUND
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IC 22-4-27
Chapter 27. Management of Funds Upon Discontinuance of
Unemployment Trust Fund
IC 22-4-27-1
Investments; disposal of securities
Sec. 1. The provisions of IC 22-4-26-1, IC 22-4-26-2,
IC 22-4-26-3, and IC 22-4-26-4, to the extent that they relate to the
unemployment trust fund, shall be operative only so long as such
unemployment trust fund continues to exist and so long as the
Secretary of the Treasury of the United States continues to maintain
for this state a separate book account of all funds deposited therein by
the state for benefit purposes, together with the state's proportionate
share of the earnings of such unemployment trust fund, from which
no other state is permitted to make withdrawals. If and when such
unemployment trust fund ceases to exist or such separate book
account is no longer maintained, all money, properties, or securities
therein belonging to the unemployment insurance benefit fund of this
state shall be transferred to the treasurer of the unemployment
insurance benefit fund who shall hold, invest, transfer, sell, deposit,
and release such money, properties, or securities in a manner
approved by the department in accordance with the provisions of this
article. The money shall be invested in the following readily
marketable classes of securities:
(1) Bonds or other interest bearing obligations of the United
States.
(2) Any bonds guaranteed as to principal and interest by the
United States government.
The treasurer of state shall dispose of securities or other properties
belonging to the unemployment insurance benefit fund under the
direction of the commissioner.
(Formerly: Acts 1947, c.208, s.2801.) As amended by P.L.144-1986,
SEC.127; P.L.18-1987, SEC.73; P.L.21-1995, SEC.109.
Indiana Code 2015
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