Indiana Statutes
§ 14-31-2-12 — Trustee of stewardship trusts
The trustee of trust I and trust II shall do the following:
(1)Accept the following:
(A)Transfers from the fund to trust I and trust II in accordance
with this chapter.
(B)Any other unrestricted contribution to the trust.
(2)Invest contributions to trust I to earn the highest interest
consistent with prudent management for permanent preservation
of principal.
(3)Invest contributions to trust II to earn the highest interest
consistent with prudent investment, preservation of principal, and
reasonable liquidity.
(4)Distribute the income from trust I and trust II quarterly in
accordance with the instructions to be provided by the division
under section 15 of this chapter.
(5)Distribute the principal of trust II upon and in accordance with
instructions from the division under section 16
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Legislative History
As added by P.L.1-1995, SEC.24.
Nearby Sections
15
§ 14-10-1-1
Establishment and members of commission§ 14-10-1-2
Filling of vacancies of ex officio members§ 14-10-1-3
Citizen members§ 14-10-1-4
Per diem compensation and traveling expenses§ 14-10-1-5
Officers§ 14-10-1-6
Quorum§ 14-10-1-7
Meetings§ 14-10-2-1
Powers of commission§ 14-10-2-2
Repealed§ 14-10-2-2.5
Consolidated proceedings§ 14-10-2-3
Repealed§ 14-10-2-4
Adoption of rules§ 14-10-2-5
Rules§ 14-10-2-6
Notices of violation