Terms Used In Indiana Code > Title 21 > Article 29 - State Educational Institutions: Investments

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Quorum: The number of legislators that must be present to do business.
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5