§ 4-24-6-2 — Funds held in trust for inmates

(a) Subject to a designation of the specific
purpose for the use of donated funds by a donor, the superintendent or
warden of an institution shall hold in trust funds deposited with the
institution for the use and benefit of, or belonging to, any inmate or
patient.
(b) The superintendent or warden shall keep an accurate accounting
of the receipts and disbursements of funds received under subsection
(a) on books and records in accordance with the accounting procedure
as prescribed by the state board of accounts.
(c) Trust funds created under this section are subject to periodic
audits the state board of accounts considers necessary.
(d) Trust funds created under this section shall be:
(1) deposited in depositories whose deposits are insured by the
Federal Deposit Insurance Corporation; or
(2) invested in government securities of the United States.
Formerly: Acts 1957, c.242, s.2; Acts 1959, c.253, s.1. As
amended by P.L.8-1991, SEC.2.