Indiana § 36-8-7.5-3 Officers of local board; powers and duties; secretary's bond; reports

Indiana Statutes

§ 36-8-7.5-3 — Officers of local board; powers and duties; secretary's bond; reports

Indiana § 36-8-7.5-3

Title 36LOCAL GOVERNMENT

Art. 8PUBLIC SAFETY

Ch. 7.51953 Police Pension Fund (Indianapolis)

This text of Indiana § 36-8-7.5-3 (Officers of local board; powers and duties; secretary's bond; reports) 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 § 36-8-7.5-3 (2026).

Text

(a)The city executive is president of the local board, the police chief is its vice president, the county treasurer is its treasurer, and the local board shall elect a secretary. The secretary shall be paid out of the 1953 fund a sum for the secretary's services as fixed by the local board.

(b)The treasurer:

(1)has custody of all property, money, and securities belonging to the 1953 fund and shall collect the principal and interest on them;

(2)is liable on the treasurer's bond as a county officer for the faithful accounting of all money and securities belonging to the 1953 fund that come into the treasurer's hands;

(3)shall keep a separate account showing at all times the true condition of the 1953 fund; and

(4)shall, upon the expiration of the treasurer's term of office, account to

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(a) The city executive is president of the local
board, the police chief is its vice president, the county treasurer is its
treasurer, and the local board shall elect a secretary. The secretary shall
be paid out of the 1953 fund a sum for the secretary's services as fixed
by the local board.
(b) The treasurer:
(1) has custody of all property, money, and securities belonging
to the 1953 fund and shall collect the principal and interest on
them;
(2) is liable on the treasurer's bond as a county officer for the
faithful accounting of all money and securities belonging to the
1953 fund that come into the treasurer's hands;
(3) shall keep a separate account showing at all times the true
condition of the 1953 fund; and
(4) shall, upon the expiration of the treasurer's term of office,
account to the local board for all money and securities coming
into the treasurer's hands, including the proceeds of them, and
turn over to the treasurer's successor all money and securities
belonging to the fund remaining in the treasurer's hands.
(c) The secretary shall:
(1) keep a true account of the proceedings of the local board when
acting upon matters relating to the 1953 fund;
(2) keep a correct statement of the accounts of each member with
the 1953 fund;
(3) give the local board a monthly account of the secretary's acts
and services as secretary;
(4) turn over to the secretary's successor all books and papers
pertaining to the secretary's office; and
(5) perform any other duties imposed upon the secretary by the
local board.
(d) The secretary shall, in the manner prescribed by IC 5-4-1,
execute a bond conditioned upon the faithful discharge of the
secretary's duties.
(e) The secretary and treasurer shall make complete and accurate
reports of their trusts to the local board on the first Monday in February
of each year, copies of which shall be filed with the city fiscal officer.
The books of the secretary and treasurer must be open at all times to
examination by members of the local board.
As added by Acts 1982, P.L.77, SEC.9. Amended by
P.L.127-2017, SEC.254.