§ 5-10.4-3-9 — Management of property

Indiana § 5-10.4-3-9

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10.4: STATE TEACHERS' RETIREMENT FUND
• Ch. 3: Board

Text

(a) The board is responsible for the fund's
property. The board may take and hold any property given outright or
on condition to the fund and shall perform the conditions accepted.
Unless restricted by a condition, the board may transfer the property
when necessary for the fund's benefit.
(b) The board shall receipt:
(1) property belonging to or coming into the fund and shall
judiciously invest the property; and
(2) money coming into the fund and, except as specified in
sections 13 and 14 of this chapter, shall deposit the money as
authorized by the board.
(c) The board shall direct the fund's disbursements on itemized
vouchers approved by the president of the board and the director or, in
the absence or incapacity of both officers, by another trustee directed
by order of the board.
[Pre-2006 Education Finance Recodification Citation:
21-6.1-3-8.]

Legislative History

As added by P.L.2-2006, SEC.28. Amended by P.L.115-2009, SEC.13.