§ 36-8-3-14 — Police and firefighters' insurance funds; creation, management, and distribution

(a) This section does not apply to second class
cities.
(b) The safety board may draft an ordinance and submit it to the
legislative body for the creation, management, and distribution of a
police insurance fund or a firefighters' insurance fund, including a
provision for retaining a certain percentage of each appointee's salary
for the creation of the fund. The ordinance must prescribe the
conditions of investment and who is entitled to the benefits.
[Pre-Local Government Recodification Citation:
18-1-11-11.]
As added by Acts 1981, P.L.309, SEC.52.