Indiana Code
Chapter 13. Payments From the Public Deposit Insurance Fund
5-13-13-8. Reopening or Reorganization of Closed Depository

Sec. 8. (a) If in any closed depository there are public funds of the state or of any political subdivision, the treasurer of state may, with the consent of the state board of finance, if the public funds belong to the state, and the public officer who has charge of the public funds of any political subdivision, may, with the consent of the local board of finance of the political subdivision to which the public funds belong, join with other depositors of the closed depository in a plan for reopening or the reorganization of the closed depository.
(b) The treasurer of state may bind the state, or any proper local officer may bind the political subdivision, as the case may be, after being authorized, as provided in this chapter, in accordance with the terms of the plan for reopening or reorganization.
As added by P.L.19-1987, SEC.15. Amended by P.L.18-1996, SEC.27.

<< Previous

Structure Indiana Code

Indiana Code

Title 5. State and Local Administration

Article 13. Investment of Public Funds

Chapter 13. Payments From the Public Deposit Insurance Fund

5-13-13-1. Closed Depository; Payments to Public Officers of Public Funds Deposited; Determination of Sums; Certification

5-13-13-2. Amount of Public Funds in Closed Depository; Determination Procedure

5-13-13-3. Payment of Amount Determined; Subrogation of Board; Distribution of Assets of Closed Depository

5-13-13-4. Anticipatory Warrants; Issuance; Obligation of Board; Amounts, Form, and Rate of Interest

5-13-13-5. Anticipatory Warrants; Sale; Proceeds; Application for Allotment of Definite Amount; Record

5-13-13-6. Anticipatory Warrants; Payment; Unpaid Warrants

5-13-13-7. Shortage of Assets in Insurance Fund; Substitution of Other Security; Pledge of Other Securities by Depositories

5-13-13-8. Reopening or Reorganization of Closed Depository