Indiana Code 36-1-8-7. Bank deposit or cash on hand constituting pledge or guaranty
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Terms Used In Indiana Code 36-1-8-7
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 7. A bank deposit or cash on hand, together with any accrued interest, constituting a pledge or guaranty on behalf of a political subdivision shall be deposited as a part of the funds of the political subdivision and be credited to the proper funds by the officers having custody of those funds after one (1) year has elapsed after the period for which the pledge or guaranty has been posted to a special account.
[Pre-Local Government Recodification Citation: 18-6-11-4.]
As added by Acts 1980, P.L.211, SEC.1.