Indiana § 21-9-5-8 Payment of authority's expenses

Indiana Statutes

§ 21-9-5-8 — Payment of authority's expenses

Indiana·Title 21 HIGHER EDUCATION·Art. 9 EDUCATION SAVINGS PROGRAMS·Ch. 5 Funds and Accounts

(a)General operating, administrative, and capital expenses of the authority may be paid from amounts appropriated for those purposes by the general assembly. Appropriations must be deposited in either the administrative account or the general operating fund, as the board determines to be appropriate.

(b)Subject to IC 21-9-6-3, money in the administrative account shall be used first to pay the general operating, administrative, and capital expenses of the authority. Before money in the program account may be used for these expenses, the authority must exhaust all other funds available to the authority, including money in the endowment fund and the administrative account.

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(a) General operating, administrative, and
capital expenses of the authority may be paid from amounts
appropriated for those purposes by the general assembly.
Appropriations must be deposited in either the administrative account
or the general operating fund, as the board determines to be
appropriate.
(b) Subject to IC 21-9-6-3, money in the administrative account
shall be used first to pay the general operating, administrative, and
capital expenses of the authority. Before money in the program account
may be used for these expenses, the authority must exhaust all other
funds available to the authority, including money in the endowment
fund and the administrative account.

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