5-13-13-1. Closed Depository; Payments to Public Officers of Public Funds Deposited; Determination of Sums; Certification
Sec. 1. (a) Whenever any depository becomes a closed depository, the board shall, as soon as possible and upon the conditions prescribed in this section, make payment from the insurance fund to the proper public officers of all public funds that were deposited in the closed depository in the manner required by this article. These […]
5-13-13-2. Amount of Public Funds in Closed Depository; Determination Procedure
Sec. 2. (a) After the receipt of the certificate and statements required by section 1 of this chapter, the attorney general and the auditor of state shall ascertain and fix the amount of public funds in the closed depository deposited in the manner required by this article. The amount of public funds deposited contrary to […]
5-13-13-3. Payment of Amount Determined; Subrogation of Board; Distribution of Assets of Closed Depository
Sec. 3. (a) Whenever the decision of the attorney general and auditor of state has become final, or whenever a court of competent jurisdiction as provided in section 2 of this chapter has determined the amount payable from the insurance fund on account of public funds deposited in the closed depository, the board for depositories […]
5-13-13-4. Anticipatory Warrants; Issuance; Obligation of Board; Amounts, Form, and Rate of Interest
Sec. 4. (a) Whenever the assets in the insurance fund are not sufficient to pay the claims of any kind that have been finally determined and have become payable, the board for depositories shall issue anticipatory warrants for the purpose of raising money for the immediate payment of the claims. The warrants outstanding and unpaid […]
5-13-13-5. Anticipatory Warrants; Sale; Proceeds; Application for Allotment of Definite Amount; Record
Sec. 5. (a) The secretary-investment manager on behalf of the board for depositories has the powers and duties set out in this section and section 6 of this chapter and shall sell all anticipatory warrants issued under this chapter at a price not less than par plus accrued interest. The proceeds of the sale of […]
5-13-12-5. Assessment Rate; Determination and Fixing; Assessment Base; Waiver or Elimination of Assessment Rate
Sec. 5. (a) Subject to the limitations prescribed in this chapter, the board for depositories may fix the assessment rate to provide assets in the fund sufficient to equal the reserve for losses of the fund for the insurance of public funds on deposit in depositories. Effective on July 1, and January 1, of each […]
5-13-13-6. Anticipatory Warrants; Payment; Unpaid Warrants
Sec. 6. (a) All anticipatory warrants and all interest or the warrants shall be payable by the secretary-investment manager solely from the money paid into the insurance fund and the money is, except for the payment of expenses incident to the operation of the insurance fund, exclusively and irrevocably pledged to the payment of all […]
5-13-12-6. Depositories; Duty to File Monthly Report and Pay Assessment to Insurance Fund; Failure to Pay; Forms
Sec. 6. (a) On or before the fifth day of each month, every depository that had public funds on deposit with it during the preceding month shall: (1) file with the board for depositories a certified report under oath showing for the preceding month the amount of the assessment base and the amount of the […]
5-13-13-7. Shortage of Assets in Insurance Fund; Substitution of Other Security; Pledge of Other Securities by Depositories
Sec. 7. (a) At any time when the board for depositories determines that the assets of the insurance fund are insufficient to pay its liabilities, accrued or contingent, or determines that the assessments due or to become due will not be sufficient to maintain the insurance fund in a solvent condition and insure the safekeeping […]
5-13-12-7. Insurance Fund; Management and Operation; Transfer Restrictions; Establishment of Reserve; Determination of Profit Distribution; Investment; Limitations; Immunity of Members
Sec. 7. (a) The board for depositories shall manage and operate the insurance fund. All expenses incident to the administration of the fund shall be paid out of the money accumulated in it subject to the direction of the board for depositories. Money in the fund may not be expended, removed, or transferred from the […]