Sec. 7. The board may enter into agreements or contracts with a financial institution inside or outside the state as may be necessary, desirable, or convenient in the opinion of the board for rendering services in connection with the care, custody, or safekeeping of securities or other investments held or owned by the bank, for rendering services in connection with the payment or collection of amounts payable as to principal or interest, and for rendering services in connection with the delivery to the bank of securities or other investments purchased by it or sold by it, and to pay the cost of those services. The board may also, in connection with any of the services to be rendered by a financial institution as to the custody and safekeeping of its securities or investments, require security in the form of collateral bonds, surety agreements, or security agreements in such form and amount as, in the opinion of the board, is necessary or desirable.
As added by P.L.25-1984, SEC.1.
Structure Indiana Code
Title 5. State and Local Administration
Article 1.5. Indiana Bond Bank
Chapter 9. Miscellaneous Provisions
5-1.5-9-1. Limitation of Actions
5-1.5-9-4. Insurance or Guaranty for Payment or Repayment of Interest or Principal, or Both
5-1.5-9-5. Authority to Receive Money; Disposition
5-1.5-9-6. Financial Institution to Keep and Pay Over Funds Deposited With It
5-1.5-9-8. Financial Institutions and Fiduciaries; Investment in Bonds and Notes
5-1.5-9-10. Officers, Departments, etc., of the State to Render Services to Bank; Costs and Expenses
5-1.5-9-11. Pledges of Revenues or Other Money
5-1.5-9-12. Securities; Registration Requirements; Exemption