Indiana Code 5-13-9-5.6. Final maturity; investment policy
(1) five (5) years after the date of purchase or entry into a repurchase agreement for a conservancy district located in a city having a population of more than five thousand (5,000) and less than five thousand one hundred thirty (5,130);
Terms Used In Indiana Code 5-13-9-5.6
- Population: has the meaning set forth in Ind. See Indiana Code 1-1-4-5
(3) two (2) years after the date of purchase or entry into a repurchase agreement for:
(A) a fund not described in subdivision (1) or (2); or
(B) a political subdivision that:
(i) is not described in subdivision (1) or (2); and
(ii) does not have in effect an investment policy and ordinance under section 5.7 of this chapter.
As added by P.L.18-1996, SEC.18. Amended by P.L.54-1999, SEC.2; P.L.212-1999, SEC.2; P.L.170-2002, SEC.15; P.L.43-2012, SEC.1; P.L.104-2022, SEC.18.
Indiana Code 5-13-9.5-6. Revocation of commission of depository; causes
(b) The causes for which the board for depositories may revoke the commission of a depository under subsection (a) include the failure of the depository to conduct lending activities in Indiana to such an extent that, at the end of each quarter, pursuant to the depository’s certification, the sum of:
Terms Used In Indiana Code 5-13-9.5-6
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(2) the total value of the depository’s investments in Indiana residents (as defined in IC 5-13-8-7);
is at least equal to the total amount of public funds of the state and political subdivisions of the state that are on deposit in the depository.
(c) Upon revocation, the depository shall immediately render an accounting and make settlement for all public funds deposited with the depository.
As added by P.L.18-1996, SEC.22.