Indiana Code 4-15-5.9-2. Deposit of compensation in employee’s account in a financial institution; written request by employee
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Sec. 2. (a) A state employee may make a written request that any compensation due from the state be deposited to the employee’s account in a financial institution. Upon receipt of the request, the auditor of state may:
(2) in the event more than one (1) employee of the state designates the same financial institution, draw a single warrant in favor of the financial institution for the total amount due the employees and transmit the warrant to the financial institution identifying each employee and the amount to be deposited in each employee’s account; or
(1) draw a warrant in favor of the financial institution set forth in the request for the credit of the employee;
Terms Used In Indiana Code 4-15-5.9-2
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
(3) make a direct deposit to the bank or trust company by electronic funds transfer under IC 4-13-2-7.
(b) The employee’s written request shall authorize in advance the direct deposit by warrant or electronic funds transfer of the employee’s earnings each time a payroll warrant or electronic funds transfer is issued on the employee’s behalf. The employee’s written authorization must designate a financial institution and an account number to which the payment is to be credited. The employee’s authorization remains in effect until the employee revokes it in writing.
As added by P.L.23-1985, SEC.4.