5-10.4-3-1. Repealed

[Pre-2006 Education Finance Recodification Citation: 21-6.1-3-1.] As added by P.L.2-2006, SEC.28. Repealed by P.L.23-2011, SEC.31.

5-10.4-3-10. Investments

Sec. 10. (a) The board shall invest its assets with the care, skill, prudence, and diligence that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character with like aims. The board also shall diversify investments in accordance with prudent […]

5-10.4-3-11. Compliance With Federal Law

Sec. 11. The board’s transactions under section 10 of this chapter are subject to IC 5-10.2-2-1.5. [Pre-2006 Education Finance Recodification Citation: 21-6.1-3-9.1.] As added by P.L.2-2006, SEC.28.

5-10.4-3-12. Form of Securities

Sec. 12. Each security may be held in bearer form or registered in the name of: (1) the fund; (2) a nominee created by the board; or (3) a nominee of a custodian bank or safekeeping bank, approved by the board. [Pre-2006 Education Finance Recodification Citation: 21-6.1-3-11.] As added by P.L.2-2006, SEC.28.

5-10.4-3-13. Custodial Agreements

Sec. 13. (a) The board may enter into a custodial agreement on terms the board considers in the best interest of the fund with a bank or trust company that is domiciled in the United States and approved by the board to: (1) act in a fiduciary capacity; and (2) manage custodial accounts; on behalf […]

5-10.4-3-14. Management of Custodial Account

Sec. 14. All income and other receipts from securities may be: (1) collected by the custodian bank or safekeeping bank approved for that purpose by the board and deposited in the custodial account or a checking account of the board; (2) reinvested from the custodial account or checking account when the board determines that the […]

5-10.4-3-15. Conflict of Interest Prohibited

Sec. 15. (a) Except as otherwise provided, a trustee or employee of the board may not have any direct interest in the income of an investment made by the board or may not receive any pay or emolument for services connected with any investment made by the board. (b) The board may purchase a security […]

5-10.4-3-16. Criminal Penalties

Sec. 16. A person who recklessly violates section 10, 12, 14, or 15 of this chapter is subject to IC 35-44.2-2-4. [Pre-2006 Education Finance Recodification Citation: 21-6.1-3-19.] As added by P.L.2-2006, SEC.28. Amended by P.L.126-2012, SEC.16; P.L.32-2019, SEC.7.

5-10.4-3-2. Repealed

[Pre-2006 Education Finance Recodification Citation: 21-6.1-3-2.] As added by P.L.2-2006, SEC.28. Repealed by P.L.23-2011, SEC.31.

5-10.4-3-3. Repealed

[Pre-2006 Education Finance Recodification Citation: 21-6.1-3-3.] As added by P.L.2-2006, SEC.28. Repealed by P.L.23-2011, SEC.31.

5-10.4-3-4. Repealed

[Pre-2006 Education Finance Recodification Citation: 21-6.1-3-4.] As added by P.L.2-2006, SEC.28. Repealed by P.L.23-2011, SEC.31.

5-10.4-3-5. Repealed

[Pre-2006 Education Finance Recodification Citation: 21-6.1-3-5.] As added by P.L.2-2006, SEC.28. Amended by P.L.107-2010, SEC.3. Repealed by P.L.23-2011, SEC.31.

5-10.4-3-6. Repealed

[Pre-2006 Education Finance Recodification Citation: 21-6.1-3-6.] As added by P.L.2-2006, SEC.28. Amended by P.L.107-2010, SEC.4. Repealed by P.L.23-2011, SEC.31.

5-10.4-3-7. Financial Information; Annualization of Data

Sec. 7. The board shall annually analyze the fund’s: (1) income and expenditures; (2) actuarial condition; (3) reserve accounts; (4) investments; and (5) such other data as necessary to interpret the fund’s condition and the board’s administration of the fund; for internal control purposes. [Pre-2006 Education Finance Recodification Citation: 21-6.1-3-6.1.] As added by P.L.2-2006, SEC.28.

5-10.4-3-8. Repealed

[Pre-2006 Education Finance Recodification Citation: 21-6.1-3-7.] As added by P.L.2-2006, SEC.28. Repealed by P.L.23-2011, SEC.31.

5-10.4-3-9. Management of Property

Sec. 9. (a) The board is responsible for the fund’s property. The board may take and hold any property given outright or on condition to the fund and shall perform the conditions accepted. Unless restricted by a condition, the board may transfer the property when necessary for the fund’s benefit. (b) The board shall receipt: […]