§ 21-7-14-5 — Disbursements from fund; deposit of securities

Indiana § 21-7-14-5

• Jurisdiction: Indiana
• Title 21: HIGHER EDUCATION
• Art. 7: STATE UNIVERSITIES
• Ch. 14: Indiana University Permanent Endowment Fund

Text

(a) The state board of finance shall direct all
disbursement from the fund. The state comptroller shall draw the state
comptroller's warrant on the treasurer of state, on a properly itemized
voucher officially approved by:
(1) the president of the state board of finance; or
(2) any member of the state board of finance if the president is
absent.
(b) Except as otherwise provided by this chapter, all securities
purchased for the fund shall be deposited with and remain in the
custody of the state board of finance. The state board of finance shall
collect all interest or other income accruing on the securities, when
due, together with the principal of the securities when the principal
matures and is due. Except as provided by subsection (c), all money
collected under this subsection shall be credited to the proper fund
account on the records of the state comptroller, and the collection shall
be deposited with the treasurer of state and reported to the state board
of finance.
(c) All money collected under an agreement that is sold, transferred,
or liquidated under IC 20-49-4-23 shall be immediately transferred to
the purchaser, transferee, or assignee of the agreement.
[Pre-2007 Higher Education Recodification Citation:
21-7-4.5-5.]

Legislative History

As added by P.L.2-2007, SEC.244. Amended by P.L.9-2024, SEC.412.