Sec. 1. (a) If the state or any political subdivision has public funds on deposit in a closed depository, the state or political subdivision may borrow an amount of money necessary for the proper conduct of the business of the state or political subdivision. (b) The amount of money borrowed under subsection (a) may not […]
Sec. 2. A public servant is not liable for loss of public funds in any closed depository if the funds have been deposited in the manner required by this article. As added by P.L.19-1987, SEC.16. Amended by P.L.107-2011, SEC.2.
Sec. 3. A public servant who violates the depository duties in this article is subject to IC 35-44.2-2-1. The public servant also is liable upon the public servant’s official bond for any loss or damage that accrues. As added by P.L.19-1987, SEC.16. Amended by P.L.107-2011, SEC.3; P.L.126-2012, SEC.22; P.L.32-2019, SEC.10.
As added by P.L.19-1987, SEC.16. Amended by P.L.107-2011, SEC.4. Repealed by P.L.126-2012, SEC.23.
