IC 5-13-10
Chapter 10. Funds Invested by the Treasurer of State
IC 5-13-10-1 Excess funds; deposit in deposit accounts
Sec. 1. Upon determination by the treasurer of state that cash of
the state on deposit is in excess of its anticipated daily cash
requirements, the treasurer of state may deposit the excess funds in
deposit accounts of designated depositories. As added by P.L.19-1987, SEC.12.
IC 5-13-10-2 Deposit accounts; interest rate requirement
Sec. 2. Deposit accounts must bear interest at rates of interest not
less than the rates of interest paid from time to time by each financial
institution to all its depositors making comparable investments. As added by P.L.19-1987, SEC.12.
IC 5-13-10-3 Deposit accounts; limitations on deposit; depository to file periodic
statement of condition; increase of maximum percentage in
depository on finding of excess cash
Sec. 3. The treasurer of state may not deposit aggregate funds in
deposit accounts in any one (1) designated depository in an amount
aggregating at any one (1) time more than fifty percent (50%) of the
combined capital, surplus, and undivided profits of that depository
as determined by its last published statement of condition filed with
the treasurer of state. Each depository shall file with the treasurer of
state each periodic statement of condition required to be filed by it
with its governmental supervisory body. If the state board for
depositories finds that excess cash of the state is substantially more
than that which had been anticipated, it may increase that maximum
percentage in any depository, and the treasurer of the state may
invest the additional funds in deposit accounts distributed among the
depositories substantially in proportion to their respective capital,
surplus, and undivided profits. As added by P.L.19-1987, SEC.12.
IC 5-13-10-4 Publication of average daily balance of funds; audit of records
Sec. 4. Within thirty (30) days following the end of each
semiannual fiscal period of the state, the treasurer of state shall
publish, in two (2) newspapers of general circulation in Indiana, the
average daily balance of the funds maintained by the treasurer in
each of the depositories in the fiscal period listing separately funds
in accounts subject to withdrawal on demand or by negotiable orders
of withdrawal and funds evidenced by all other depository accounts.
The accuracy of the computation of the balances shall be verified by
the state board of accounts in the audit of the records of the treasurer
of state.
As added by P.L.19-1987, SEC.12.
IC 5-13-10-5 Interest to be receipted to general fund
Sec. 5. All interest derived from investments under this chapter
shall be receipted to the general fund, except as otherwise provided
by law. As added by P.L.19-1987, SEC.12.
IC 5-13-10-6 Payment of interest accruing on state held school funds to school
corporations
Sec. 6. All interest accrued or accruing on the sinking fund or any
other fund held by the state for the benefit of common schools is set
apart for distribution as other revenues are distributed for the support
of the common schools. As added by P.L.2-2006, SEC.29.
IC 5-13-10
Chapter 10. Funds Invested by the Treasurer of State
IC 5-13-10-1 Excess funds; deposit in deposit accounts
Sec. 1. Upon determination by the treasurer of state that cash of
the state on deposit is in excess of its anticipated daily cash
requirements, the treasurer of state may deposit the excess funds in
deposit accounts of designated depositories. As added by P.L.19-1987, SEC.12.
IC 5-13-10-2 Deposit accounts; interest rate requirement
Sec. 2. Deposit accounts must bear interest at rates of interest not
less than the rates of interest paid from time to time by each financial
institution to all its depositors making comparable investments. As added by P.L.19-1987, SEC.12.
IC 5-13-10-3 Deposit accounts; limitations on deposit; depository to file periodic
statement of condition; increase of maximum percentage in
depository on finding of excess cash
Sec. 3. The treasurer of state may not deposit aggregate funds in
deposit accounts in any one (1) designated depository in an amount
aggregating at any one (1) time more than fifty percent (50%) of the
combined capital, surplus, and undivided profits of that depository
as determined by its last published statement of condition filed with
the treasurer of state. Each depository shall file with the treasurer of
state each periodic statement of condition required to be filed by it
with its governmental supervisory body. If the state board for
depositories finds that excess cash of the state is substantially more
than that which had been anticipated, it may increase that maximum
percentage in any depository, and the treasurer of the state may
invest the additional funds in deposit accounts distributed among the
depositories substantially in proportion to their respective capital,
surplus, and undivided profits. As added by P.L.19-1987, SEC.12.
IC 5-13-10-4 Publication of average daily balance of funds; audit of records
Sec. 4. Within thirty (30) days following the end of each
semiannual fiscal period of the state, the treasurer of state shall
publish, in two (2) newspapers of general circulation in Indiana, the
average daily balance of the funds maintained by the treasurer in
each of the depositories in the fiscal period listing separately funds
in accounts subject to withdrawal on demand or by negotiable orders
of withdrawal and funds evidenced by all other depository accounts.
The accuracy of the computation of the balances shall be verified by
the state board of accounts in the audit of the records of the treasurer
of state.
As added by P.L.19-1987, SEC.12.
IC 5-13-10-5 Interest to be receipted to general fund
Sec. 5. All interest derived from investments under this chapter
shall be receipted to the general fund, except as otherwise provided
by law. As added by P.L.19-1987, SEC.12.
IC 5-13-10-6 Payment of interest accruing on state held school funds to school
corporations
Sec. 6. All interest accrued or accruing on the sinking fund or any
other fund held by the state for the benefit of common schools is set
apart for distribution as other revenues are distributed for the support
of the common schools. As added by P.L.2-2006, SEC.29.
IC 5-13-10
Chapter 10. Funds Invested by the Treasurer of State
IC 5-13-10-1 Excess funds; deposit in deposit accounts
Sec. 1. Upon determination by the treasurer of state that cash of
the state on deposit is in excess of its anticipated daily cash
requirements, the treasurer of state may deposit the excess funds in
deposit accounts of designated depositories. As added by P.L.19-1987, SEC.12.
IC 5-13-10-2 Deposit accounts; interest rate requirement
Sec. 2. Deposit accounts must bear interest at rates of interest not
less than the rates of interest paid from time to time by each financial
institution to all its depositors making comparable investments. As added by P.L.19-1987, SEC.12.
IC 5-13-10-3 Deposit accounts; limitations on deposit; depository to file periodic
statement of condition; increase of maximum percentage in
depository on finding of excess cash
Sec. 3. The treasurer of state may not deposit aggregate funds in
deposit accounts in any one (1) designated depository in an amount
aggregating at any one (1) time more than fifty percent (50%) of the
combined capital, surplus, and undivided profits of that depository
as determined by its last published statement of condition filed with
the treasurer of state. Each depository shall file with the treasurer of
state each periodic statement of condition required to be filed by it
with its governmental supervisory body. If the state board for
depositories finds that excess cash of the state is substantially more
than that which had been anticipated, it may increase that maximum
percentage in any depository, and the treasurer of the state may
invest the additional funds in deposit accounts distributed among the
depositories substantially in proportion to their respective capital,
surplus, and undivided profits. As added by P.L.19-1987, SEC.12.
IC 5-13-10-4 Publication of average daily balance of funds; audit of records
Sec. 4. Within thirty (30) days following the end of each
semiannual fiscal period of the state, the treasurer of state shall
publish, in two (2) newspapers of general circulation in Indiana, the
average daily balance of the funds maintained by the treasurer in
each of the depositories in the fiscal period listing separately funds
in accounts subject to withdrawal on demand or by negotiable orders
of withdrawal and funds evidenced by all other depository accounts.
The accuracy of the computation of the balances shall be verified by
the state board of accounts in the audit of the records of the treasurer
of state.
As added by P.L.19-1987, SEC.12.
IC 5-13-10-5 Interest to be receipted to general fund
Sec. 5. All interest derived from investments under this chapter
shall be receipted to the general fund, except as otherwise provided
by law. As added by P.L.19-1987, SEC.12.
IC 5-13-10-6 Payment of interest accruing on state held school funds to school
corporations
Sec. 6. All interest accrued or accruing on the sinking fund or any
other fund held by the state for the benefit of common schools is set
apart for distribution as other revenues are distributed for the support
of the common schools. As added by P.L.2-2006, SEC.29.
