Indiana § 14-13-2-25 Bonds; legal investments; exempt from taxation

Indiana Statutes

§ 14-13-2-25 — Bonds; legal investments; exempt from taxation

Indiana·Art. 13 LOCAL RESOURCE DEVELOPMENT·Ch. 2 Little Calumet River Basin Development Commission

(a)Bonds issued under this chapter or under IC 14-6-29.5 (before its repeal) constitute legal investments for the following:

(1)Private trust money.

(2)The money of banks, trust companies, insurance companies, building and loan associations, credit unions, banks of discount and deposit, savings associations, mortgage guaranty companies, small loan companies, industrial loan and investment companies, and any other financial institutions organized under Indiana law.

(b)Bonds issued under this chapter and the interest on the bonds are exempt from taxation as prescribed by IC 6-8-5-1. [Pre-1995 Recodification Citation: 14-6-29.5-9(h).]

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(a) Bonds issued under this chapter or under
IC 14-6-29.5 (before its repeal) constitute legal investments for the
following:
(1) Private trust money.
(2) The money of banks, trust companies, insurance companies,
building and loan associations, credit unions, banks of discount
and deposit, savings associations, mortgage guaranty companies,
small loan companies, industrial loan and investment companies,
and any other financial institutions organized under Indiana law.
(b) Bonds issued under this chapter and the interest on the bonds are
exempt from taxation as prescribed by IC 6-8-5-1.
[Pre-1995 Recodification Citation: 14-6-29.5-9(h).]

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