Sec. 20. (a) As used in this section, "financial institution" has the meaning set forth in IC 5-13-4-10.
(b) The board may invest money in the hospital funds within the county or the state as the board determines. The money may be invested in the following:
(1) Any account paying interest and subject to withdrawal by negotiable orders of withdrawal, unlimited as to amount or number (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 up and offered by a financial institution or brokerage firm registered and authorized to do business in Indiana.
(6) Repurchase or resale agreements involving the purchase and guaranteed resale of any interest bearing obligations issued or fully insured or guaranteed by the United States or any United States government agency in which type of agreement the amount of money must be fully collateralized by interest bearing obligations as determined by the current market value computed on the day the agreement is effective.
(7) Mutual funds offered by a financial institution or brokerage firm registered and authorized to do business in Indiana.
(8) Securities backed by the full faith and credit of the United States Treasury or fully insured or guaranteed by the United States or any United States government agency.
(9) Pooled fund investments for participating hospitals offered, managed, and administered by a financial institution or brokerage firm registered or authorized to do business in Indiana.
This subsection does not prevent the board from using money in the hospital funds to capitalize projects undertaken under section 1(b) and 1(c) of this chapter.
(c) Any interest derived from an investment under subsection (b) becomes a part of the hospital funds invested. Interest derived from the investment of money raised by bonded or other indebtedness in excess of funds needed for hospital buildings may be applied by the governing board to the appropriate bond redemption, interest, or sinking fund.
[Pre-1993 Recodification Citation: 16-12.1-3-16.]
As added by P.L.2-1993, SEC.5.
Structure Indiana Code
Chapter 3. Powers of Hospital Governing Boards
16-22-3-1. General Powers and Responsibilities
16-22-3-2. Acquisition of Real and Personal Property for Hospital Purposes
16-22-3-4. Equipment and Supplies Acquisitions
16-22-3-5. Bids, Proposals, or Quotations Submitted by Trust
16-22-3-6. Contracts for Services
16-22-3-9. Medical Staff Appointment; Eligibility; Standards and Rules; Staff Self-Government
16-22-3-10. Personnel; Compensation; Policies
16-22-3-11. Permissible Personnel Programs and Policies
16-22-3-12. Hospital Financial Records; Annual Report
16-22-3-13. Patient Charges; Building and Improvement Funds
16-22-3-14. Hospital Funds; Authorized Transfers
16-22-3-15. Patient Refunds Fund
16-22-3-17. Disposition and Encumbrance of Real and Personal Property; Immunity From Liability
16-22-3-18.5. Conveyance of Real or Personal Property to State Authority for Lease Back to Hospital
16-22-3-19. Medical Care Trust Board
16-22-3-19.5. Hospital Property Sold Before 1990
16-22-3-20. Investment of Hospital Funds
16-22-3-23. Related Facilities and Services
16-22-3-24. Legal Status of Board; Allowable Name of the Board; Actions Legalized
16-22-3-25. Eminent Domain Powers
16-22-3-26. Loans; Sale or Factor of Accounts Receivable; Federal Loans or Guaranties
16-22-3-27. Tax Levy Support of Hospital
16-22-3-27.5. Payment of Lease or Loan From Taxes
16-22-3-28. Other Powers of Board