§ 5-13-10.5-3 — Final maturity; percentage of investments outstanding; investment advisers and money managers; investment of money from transportation corridor fund

Indiana § 5-13-10.5-3

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 13: INVESTMENT OF PUBLIC FUNDS
• Ch. 10.5: State Investments

Text

(a) Except as provided in subsection (b),
investments under this chapter may be made only in securities having
a stated final maturity of two (2) years or less from the date of
purchase.
(b) The treasurer of state may make investments in securities having
a final maturity or redemption date that is more than two (2) years and
not more than five (5) years after the date of purchase or subscription.
After an investment is made under this subsection, the total
investments outstanding under this subsection may not exceed
twenty-five percent (25%) of the total portfolio of funds invested by the
treasurer of state. However, an investment that complies with this
subsection when the investment is made remains legal even if a
subsequent decrease in the total portfolio invested by the treasurer of
state causes the percentage of investments outstanding under this
subsection to exceed twenty-five percent (25%). The treasurer of state
may contract with federally regulated investment advisers and other
institutional money managers to make investments under this section.
(c) Unless prohibited under federal law, the treasurer of state shall
invest under subsection (b) the funds of the transportation corridor fund
established by IC 8-4.5-3-7. The treasurer of state may invest other
funds held by the state in compliance with subsection (b).

Legislative History

As added by P.L.18-1996, SEC.23. Amended by P.L.46-1997, SEC.15; P.L.220-2003, SEC.3; P.L.115-2008, SEC.14.