Sec. 2. (a) All securities at any time purchased, held, or owned by the bank shall at all times be purchased and held in the name of the bank.
(b) Except for agreements described in IC 5-1.5-1-10(4), all securities at any time purchased by the bank, upon delivery to the bank, shall, unless waived by the board, be accompanied by all documentation required by the board that shall include an approving opinion of recognized bond counsel, certification and guarantee of signatures, and certification as to no litigation pending as of the date of delivery of the securities challenging the validity or issuance of such securities.
As added by P.L.25-1984, SEC.1. Amended by P.L.44-1990, SEC.3; P.L.28-1992, SEC.4.
Structure Indiana Code
Title 5. State and Local Administration
Article 1.5. Indiana Bond Bank
Chapter 8. Loans to Qualified Entities
5-1.5-8-2. Securities to Be Purchased and Held in Name of Bank; Required Documentation
5-1.5-8-3. Contracts With Bank; Terms and Conditions; Fees and Charges; Denomination and Prices
5-1.5-8-5.1. Authorization to Convey Revenue or Taxes to Issuing Entity
5-1.5-8-6.1. Anticipation Notes; Issuance and Purchase
5-1.5-8-7. Investment and Reinvestment; Securities Sold to Bank