IC 5-13-14-1 Loan for proper conduct of business of state or political
subdivision; limitation; pledge of deposits in closed depository
Sec. 1. (a) If the state or any political subdivision has public funds
on deposit in a closed depository, the state or political subdivision
may borrow an amount of money necessary for the proper conduct
of the business of the state or political subdivision.
(b) The amount of money borrowed under subsection (a) may not
exceed the amount of money the state or political subdivision has on
deposit and unpledged in the closed depository at the time the loan
is made.
(c) For the purpose of securing the payment of a loan made under
this section, the state or any political subdivision, through the
treasurer of state, county treasurer, or fiscal officer of any political
subdivision other than a county, may pledge any or all of the deposits
in the closed depository. As added by P.L.19-1987, SEC.16.
IC 5-13-14-2 No liability for public officer for loss of funds in closed depository
Sec. 2. A public officer is not liable for loss of public funds in any
closed depository if the funds have been deposited in the manner
required by this article. As added by P.L.19-1987, SEC.16.
IC 5-13-14-3 Liability of public officer for failure to deposit, etc.; Class B felony;
liability on bond
Sec. 3. A public officer who knowingly fails to deposit public
funds, or knowingly deposits or draws any check or negotiable order
of withdrawal against the funds except in the manner prescribed in
this article, commits a Class B felony. The public officer also is
liable upon the officer's official bond for any loss or damage that
may accrue. As added by P.L.19-1987, SEC.16.
IC 5-13-14-4 Failure to perform duty; Class B misdemeanor
Sec. 4. A public officer who knowingly fails to perform any duty
imposed upon the officer by this article, other than a duty for which
a penalty is imposed by section 3 of this chapter, commits a Class B
misdemeanor. As added by P.L.19-1987, SEC.16.
IC 5-13-14-1 Loan for proper conduct of business of state or political
subdivision; limitation; pledge of deposits in closed depository
Sec. 1. (a) If the state or any political subdivision has public funds
on deposit in a closed depository, the state or political subdivision
may borrow an amount of money necessary for the proper conduct
of the business of the state or political subdivision.
(b) The amount of money borrowed under subsection (a) may not
exceed the amount of money the state or political subdivision has on
deposit and unpledged in the closed depository at the time the loan
is made.
(c) For the purpose of securing the payment of a loan made under
this section, the state or any political subdivision, through the
treasurer of state, county treasurer, or fiscal officer of any political
subdivision other than a county, may pledge any or all of the deposits
in the closed depository. As added by P.L.19-1987, SEC.16.
IC 5-13-14-2 No liability for public officer for loss of funds in closed depository
Sec. 2. A public officer is not liable for loss of public funds in any
closed depository if the funds have been deposited in the manner
required by this article. As added by P.L.19-1987, SEC.16.
IC 5-13-14-3 Liability of public officer for failure to deposit, etc.; Class B felony;
liability on bond
Sec. 3. A public officer who knowingly fails to deposit public
funds, or knowingly deposits or draws any check or negotiable order
of withdrawal against the funds except in the manner prescribed in
this article, commits a Class B felony. The public officer also is
liable upon the officer's official bond for any loss or damage that
may accrue. As added by P.L.19-1987, SEC.16.
IC 5-13-14-4 Failure to perform duty; Class B misdemeanor
Sec. 4. A public officer who knowingly fails to perform any duty
imposed upon the officer by this article, other than a duty for which
a penalty is imposed by section 3 of this chapter, commits a Class B
misdemeanor. As added by P.L.19-1987, SEC.16.
IC 5-13-14-1 Loan for proper conduct of business of state or political
subdivision; limitation; pledge of deposits in closed depository
Sec. 1. (a) If the state or any political subdivision has public funds
on deposit in a closed depository, the state or political subdivision
may borrow an amount of money necessary for the proper conduct
of the business of the state or political subdivision.
(b) The amount of money borrowed under subsection (a) may not
exceed the amount of money the state or political subdivision has on
deposit and unpledged in the closed depository at the time the loan
is made.
(c) For the purpose of securing the payment of a loan made under
this section, the state or any political subdivision, through the
treasurer of state, county treasurer, or fiscal officer of any political
subdivision other than a county, may pledge any or all of the deposits
in the closed depository. As added by P.L.19-1987, SEC.16.
IC 5-13-14-2 No liability for public officer for loss of funds in closed depository
Sec. 2. A public officer is not liable for loss of public funds in any
closed depository if the funds have been deposited in the manner
required by this article. As added by P.L.19-1987, SEC.16.
IC 5-13-14-3 Liability of public officer for failure to deposit, etc.; Class B felony;
liability on bond
Sec. 3. A public officer who knowingly fails to deposit public
funds, or knowingly deposits or draws any check or negotiable order
of withdrawal against the funds except in the manner prescribed in
this article, commits a Class B felony. The public officer also is
liable upon the officer's official bond for any loss or damage that
may accrue. As added by P.L.19-1987, SEC.16.
IC 5-13-14-4 Failure to perform duty; Class B misdemeanor
Sec. 4. A public officer who knowingly fails to perform any duty
imposed upon the officer by this article, other than a duty for which
a penalty is imposed by section 3 of this chapter, commits a Class B
misdemeanor. As added by P.L.19-1987, SEC.16.
