Indiana § 36-8-6-6 Investment of funds

Indiana Statutes

§ 36-8-6-6 — Investment of funds

Indiana·Title 36 LOCAL GOVERNMENT·Art. 8 PUBLIC SAFETY·Ch. 6 1925 Police Pension Fund

(a)The local board shall determine how much of the 1925 fund may be safely invested and how much should be retained for the needs of the fund. The investment shall be made:

(1)in interest bearing bonds of the United States, the state, or an Indiana municipal corporation. The bonds shall be deposited with and must remain in the custody of the treasurer of the board, who shall collect the interest due as it becomes due; or

(2)under IC 5-13-9.

(b)Investments under this section are subject to section 1.5 of this chapter. [Pre-Local Government Recodification Citation: 19-1-24-3 part.] As added by Acts 1981, P.L.309, SEC.55. Amended by P.L.55-1989, SEC.49; P.L.35-1999, SEC.8.

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(a) The local board shall determine how much
of the 1925 fund may be safely invested and how much should be
retained for the needs of the fund. The investment shall be made:
(1) in interest bearing bonds of the United States, the state, or an
Indiana municipal corporation. The bonds shall be deposited with
and must remain in the custody of the treasurer of the board, who
shall collect the interest due as it becomes due; or
(2) under IC 5-13-9.
(b) Investments under this section are subject to section 1.5 of this
chapter.
[Pre-Local Government Recodification Citation: 19-1-24-3
part.]
As added by Acts 1981, P.L.309, SEC.55. Amended by
P.L.55-1989, SEC.49; P.L.35-1999, SEC.8.

Indiana § 36-8-6-6 (Investment of funds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.