CHAPTER 4. DEFINITIONS
IC 5-13-4
Chapter 4. Definitions
IC 5-13-4-1
Application
Sec. 1. The definitions in this chapter apply throughout thisarticle.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-2
"Board for depositories"
Sec. 2. "Board for depositories" refers to the board establishedunder IC 5-13-12.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-3
Repealed
(Repealed by P.L.18-1996, SEC.33.)
IC 5-13-4-4
"Closed depository"
Sec. 4. "Closed depository" includes:
(1) a financial institution the business and property of which thedepartment of financial institutions has taken possession ofunder IC 28-1-3.1 for the purpose of liquidation;
(2) a financial institution the business and property of which thedepartment of financial institutions has authorized theinstitution to liquidate under IC 28-1-9 and IC 28-7-1-27.1; and
(3) any national banking association, federal savingsassociation, or federally chartered savings bank for the businessand property of which a receiver has been appointed.
As added by P.L.19-1987, SEC.6. Amended by P.L.79-1998, SEC.7.
IC 5-13-4-5
"Credit enhancement"
Sec. 5. "Credit enhancement" means any letter of credit,insurance, guarantee, or other credit enhancement issued by an issuerapproved by the board for depositories, which is used to secure debtor leasehold financing for an industrial development obligation.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-6
"Credit enhancement obligation"
Sec. 6. "Credit enhancement obligation" means the obligation ofthe developers of an industrial development project under thedocuments related to the credit enhancement.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-7
"Deposit accounts" Sec. 7. "Deposit accounts" means any of the following:
(1) Any account subject to withdrawal by negotiable orders ofwithdrawal, unlimited as to amount or number, and withoutpenalty, including NOW accounts.
(2) Passbook savings accounts.
(3) Certificates of deposit.
(4) Money market deposit accounts.
(5) Any interest bearing account that is authorized to be set upand offered by a financial institution in the course of itsrespective business.
As added by P.L.19-1987, SEC.6. Amended by P.L.44-1990, SEC.1.
IC 5-13-4-8
"Depository"
Sec. 8. "Depository" refers to a financial institution designated asa depository of public funds under this article.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-9
"Electronic funds transfer"
Sec. 9. "Electronic funds transfer" means any transfer of funds,other than a transaction originated by check, draft, or similar paperinstrument, that is initiated through an electronic terminal, telephone,computer, or magnetic tape for the purpose of ordering, instructing,or authorizing a financial institution to debit or credit an account.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-10
"Financial institution"
Sec. 10. "Financial institution" means any of the following:
(1) A bank, trust company, or mutual savings bank that:
(A) was incorporated under the law of Indiana or any otherstate; and
(B) has its principal office or a branch in Indiana.
(2) A national banking association with its principal office or abranch in Indiana.
(3) A savings association operating as a deposit associationincorporated under Indiana law.
(4) A federally chartered savings association with its principaloffice or a branch in Indiana.
(5) A federally chartered savings bank with its principal officeor a branch in Indiana.
(6) A state chartered credit union in Indiana that is federallyinsured or privately insured and that has assets of three milliondollars ($3,000,000) or more.
As added by P.L.19-1987, SEC.6. Amended by P.L.28-1994, SEC.1;P.L.18-1996, SEC.2; P.L.79-1998, SEC.8.
IC 5-13-4-11
"Fiscal body" Sec. 11. "Fiscal body" has the meaning set forth in IC 36-1-2-6.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-12
"Fiscal officer"
Sec. 12. "Fiscal officer" has the meaning set forth in IC 36-1-2-7.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-13
"Industrial development obligation"
Sec. 13. "Industrial development obligation" means any loan orlease by a lender or lessor approved by the board for depositories asresponsible and able to service the loan or lease properly, which isused to finance all or any portion of the cost of an industrialdevelopment project.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-14
"Industrial development project"
Sec. 14. "Industrial development project" has the meaning setforth in IC 4-4-10.9-11 and includes mining operations, agriculturaloperations that involve the processing of agricultural products, andany other type of business project for which the Indiana financeauthority may make a loan or lease guarantee.
As added by P.L.19-1987, SEC.6. Amended by P.L.11-1990,SEC.105; P.L.235-2005, SEC.79.
IC 5-13-4-15
"Insurance fund"
Sec. 15. "Insurance fund" refers to the public deposits insurancefund created by IC 5-13-12.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-16
"Investing officer"
Sec. 16. "Investing officer" means the person having authority bylaw to invest for the political subdivision, or, if there is no law, theperson designated by resolution of the fiscal body.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-17
"Investment cash management system"
Sec. 17. "Investment cash management system" means a systemin which a depository manages the investment practices of a politicalsubdivision.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-18
"Local board of finance"
Sec. 18. "Local board of finance" refers to a board of finance
established under IC 5-13-7.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-19
"Political subdivision"
Sec. 19. (a) Except as provided in subsections (b) and (c),"political subdivision" has the meaning set forth in IC 36-1-2-13.
(b) A hospital organized or operated under IC 16-22-1 throughIC 16-22-5 or IC 16-23-1 is considered a political subdivision onlyfor purposes of IC 5-13-12 and IC 5-13-13.
(c) For purposes of IC 5-13-7 and IC 5-13-8, the term does notinclude a city or a town.
As added by P.L.19-1987, SEC.6. Amended by P.L.5-1988, SEC.36;P.L.2-1993, SEC.46; P.L.10-1997, SEC.6.
IC 5-13-4-20
"Public funds"
Sec. 20. "Public funds" means all fees and funds of whatever kindor character coming into the possession of any public officer byvirtue of that office. The term does not include:
(1) support payments made to the clerk of a circuit court underIC 31-16-9 (or IC 31-1-11.5-13 before its repeal); or
(2) proceeds of bonds payable exclusively by a private entity.
As added by P.L.19-1987, SEC.6. Amended by P.L.73-1995, SEC.1;P.L.1-1997, SEC.34.
IC 5-13-4-21
"Public officer"
Sec. 21. "Public officer" means any person elected or appointedto any office of the state or any political subdivision. "Public officer"includes an officer of all boards, commissions, departments,institutions, and other bodies established by law to function as a partof the government of the state or political subdivision that aresupported wholly or partly by appropriations of money made fromthe treasury of the state or political subdivision or that are supportedwholly or partly by taxes or fees. "Public officer" does not include anofficer of an independent body politic and corporate set up as aninstrumentality of the state but not constituting a politicalsubdivision.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-21.5
"Repurchase agreement"
Sec. 21.5. "Repurchase agreement" has the meaning set forth inIC 5-13-9-3.
As added by P.L.18-1996, SEC.3.
IC 5-13-4-22
"State board of finance"
Sec. 22. "State board of finance" refers to the board established by
IC 4-9.1.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-23
"Statement of condition"
Sec. 23. "Statement of condition" means the statement filed byeach financial institution with its governmental supervisory body.
As added by P.L.19-1987, SEC.6.
IC 5-13-4-24
"Transaction account"
Sec. 24. "Transaction account" means any deposit account otherthan a certificate of deposit.
As added by P.L.18-1996, SEC.4.