CHAPTER 15. PURDUE UNIVERSITY: ENDOWMENT FUND

IC 21-7-15
    Chapter 15. Purdue University: Endowment Fund

IC 21-7-15-1
"Fund"
    Sec. 1. As used in this chapter, "fund" refers to the endowmentfund for Purdue University described in section 2 of this chapter.
As added by P.L.2-2007, SEC.245.

IC 21-7-15-2
Treasurer of state to hold fund
    Sec. 2. The treasurer of state shall take in charge, hold, manage,and invest, for the use and benefit of the board of trustees of PurdueUniversity, its endowment fund, derived from acceptance, by thestate of Indiana, of the benefits and provisions of the acts ofCongress, approved July 2, 1862, and April 14, 1864.
As added by P.L.2-2007, SEC.245.

IC 21-7-15-3
Controlling statutes for fund
    Sec. 3. The fund shall be held, managed, controlled, and investedin accordance with:
        (1) 7 U.S.C. 301 et seq.;
        (2) the acts of Congress that are amendatory or supplemental to7 U.S.C. 301 et seq.; and
        (3) this chapter.
As added by P.L.2-2007, SEC.245.

IC 21-7-15-4
Fund investment
    Sec. 4. The fund or any part of the fund may be invested insecurities bearing the rate of interest that is obtainable as follows:
        (1) In bonds, notes, or certificates that are the obligations of, orguaranteed by, the United States.
        (2) In:
            (A) bonds of any territory or insular possession of the UnitedStates;
            (B) bonds, notes, warrants, certificates, or orders of the stateof Indiana; or
            (C) any political subdivision, instrumentality, or agency ofthe state of Indiana;
issued under authority of law.
As added by P.L.2-2007, SEC.245.

IC 21-7-15-5
Loans from fund
    Sec. 5. Notwithstanding any other law to the contrary, thetreasurer of state:
        (1) on the terms that the treasurer of state prescribes; and
        (2) without the approval of the state board of finance;may make loans from the principal of the fund to the board oftrustees of Purdue University.
As added by P.L.2-2007, SEC.245.