State Codes and Statutes
Statutes > Indiana > Title22 > Ar4 > Ch27
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book account is no longer maintained, all money, properties, or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.
