2022 Indiana Code
Title 5. State and Local Administration
Article 10.2. Public Retirement and Disability Benefits
Chapter 2. The Retirement Funds
5-10.2-2-13. Custodial Agreements for Securities; Servicing of Mortgages; Securities Lending Program
Sec. 13. (a) The board may enter into a custodial agreement with a trust company or state or national bank to provide for the custody and servicing of the securities and other investments under the control of the board.
(b) The agreement may contain such terms as the board considers desirable including:
(1) the custody, safeguarding or indemnity, servicing, handling and delivery of the securities and other investments; and
(2) the payment of taxes, fees of the custodian, and other expenses and payments required in connection with the securities and investments.
(c) Any person, firm, limited liability company, or corporation authorized to service mortgage loans guaranteed by the federal housing administration may be authorized by the board to service a mortgage loan held by the fund.
(d) The board may authorize its custodian to enter into a securities lending program agreement, under which the securities held by each fund may be loaned in order to provide revenue to the fund. Such an agreement must require that collateral be pledged in excess of the total market value of the loaned securities.
As added by Acts 1977, P.L.53, SEC.2. Amended by Acts 1980, P.L.28, SEC.3; P.L.8-1993, SEC.55; P.L.35-2012, SEC.38.
