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.
Structure Indiana Code
Title 5. State and Local Administration
Article 13. Investment of Public Funds
Chapter 10. Funds Invested by the Treasurer of State
5-13-10-1. Excess Funds; Deposit in Deposit Accounts
5-13-10-2. Deposit Accounts; Interest Rate Requirement
5-13-10-4. Publication of Average Daily Balance of Funds; Audit of Records
5-13-10-5. Interest to Be Receipted to General Fund
5-13-10-6. Payment of Interest Accruing on State Held School Funds to School Corporations