IC 22-4-27
    Chapter 27. Management of Funds Upon Discontinuance ofUnemployment 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 theunemployment trust fund, shall be operative only so long as suchunemployment trust fund continues to exist and so long as theSecretary of the Treasury of the United States continues to maintainfor this state a separate book account of all funds deposited thereinby the state for benefit purposes, together with the state'sproportionate share of the earnings of such unemployment trust fund,from which no other state is permitted to make withdrawals. If andwhen such unemployment trust fund ceases to exist or such separatebook account is no longer maintained, all money, properties, orsecurities therein belonging to the unemployment insurance benefitfund of this state shall be transferred to the treasurer of theunemployment insurance benefit fund who shall hold, invest,transfer, sell, deposit, and release such money, properties, orsecurities in a manner approved by the department in accordancewith the provisions of this article. The money shall be invested in thefollowing readily marketable classes of securities:
        (1) Bonds or other interest bearing obligations of the UnitedStates.
        (2) Any bonds guaranteed as to principal and interest by theUnited States government.
The treasurer of state shall dispose of securities or other propertiesbelonging to the unemployment insurance benefit fund under thedirection 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.