Indiana § 2-3.5-5-11 Loans

Indiana Statutes

§ 2-3.5-5-11 — Loans

Indiana § 2-3.5-5-11

Art. 3.5LEGISLATIVE RETIREMENT BENEFITS

Ch. 5Legislators' Defined Contribution Plan

This text of Indiana § 2-3.5-5-11 (Loans) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 2-3.5-5-11 (2026).

Text

Before January 1, 2002, the board shall adopt
rules establishing procedures for making loans to a participant from the
participant's employee contribution account and employer contribution
account within the defined contribution fund. Rules adopted under this
section must comply with the requirements of Section 72(p) of the
Internal Revenue Code and must apply to each participant in the plan,
regardless of whether the participant is serving in the general assembly
at the time of the loan. A loan made in accordance with rules adopted
under this section is not considered the receipt of retirement benefits
for purposes of IC 5-10-8-1.

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Before January 1, 2002, the board shall adopt
rules establishing procedures for making loans to a participant from the
participant's employee contribution account and employer contribution
account within the defined contribution fund. Rules adopted under this
section must comply with the requirements of Section 72(p) of the
Internal Revenue Code and must apply to each participant in the plan,
regardless of whether the participant is serving in the general assembly
at the time of the loan. A loan made in accordance with rules adopted
under this section is not considered the receipt of retirement benefits
for purposes of IC 5-10-8-1.