Sec. 1. (a) A financial institution may at any time file an application to become a depository and receive public funds of the state on deposit. Except as provided in IC 5-13-8-1 and IC 5-13-8-7, designation of a depository to receive public funds of the state qualifies a depository to receive public funds of a […]
Sec. 2. The state board of finance shall consider all applications of financial institutions filed with the state board of finance. As added by P.L.18-1996, SEC.22.
Sec. 3. (a) The state board of finance shall designate as a depository for public funds of the state any financial institution qualified under section 1 of this chapter that: (1) properly files an application to receive a deposit of public funds of the state and to provide the security required by IC 5-13-13-7; and […]
Sec. 4. When the state board of finance has designated a depository for public funds, the treasurer of state shall accept the application of the financial institution to act as a depository for public funds. A designation under this section expires only under the following conditions: (1) The board of depositories revokes the status of […]
Sec. 5. A financial institution designated as a depository under this chapter shall, upon request of the treasurer of state, file a copy of the institution’s most recent statement of condition. As added by P.L.18-1996, SEC.22.
Sec. 6. (a) The board for depositories regarding depositories of public funds of the state may revoke the commission of any depository at any time for any cause considered sufficient by the board for depositories. (b) The causes for which the board for depositories may revoke the commission of a depository under subsection (a) include […]
Sec. 7. Any depository designated under this chapter may resign as a depository and relinquish all public funds on deposit with the depository. The resignation is effective: (1) thirty (30) days after written notice is given to the state board of finance; and (2) after settlement with the state board of finance for all public […]
Sec. 8. (a) The state board of accounts, with the approval of the attorney general, shall prepare and prescribe: (1) a form of agreement to receive public funds on deposit that may be accepted and executed, as provided in this chapter; and (2) any other forms necessary to carry out this chapter. (b) These forms […]
