Indiana § 5-13-10.5-7 Investment in securities; cost in excess of par

Indiana Statutes

§ 5-13-10.5-7 — Investment in securities; cost in excess of par

Indiana § 5-13-10.5-7

Title 5STATE AND LOCAL ADMINISTRATION

Art. 13INVESTMENT OF PUBLIC FUNDS

Ch. 10.5State Investments

This text of Indiana § 5-13-10.5-7 (Investment in securities; cost in excess of par) 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 § 5-13-10.5-7 (2026).

Text

(a)A public officer of the state may invest or reinvest funds held by the officer and available for investment in securities that are:

(1)backed by the full faith and credit of the United States Treasury or fully guaranteed by the United States; and

(2)issued by any of the following:

(A)The United States Treasury.

(B)A federal agency.

(C)A federal instrumentality.

(D)A federal government sponsored enterprise.

(b)If an investment under subsection (a) is made at a cost in excess of the par value of the securities purchased, any premium paid for the securities shall be deducted from the first interest received and returned to the fund from which the investment was purchased, and only the net amount is considered interest income.

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(a) A public officer of the state may invest or
reinvest funds held by the officer and available for investment in
securities that are:
(1) backed by the full faith and credit of the United States
Treasury or fully guaranteed by the United States; and
(2) issued by any of the following:
(A) The United States Treasury.
(B) A federal agency.
(C) A federal instrumentality.
(D) A federal government sponsored enterprise.
(b) If an investment under subsection (a) is made at a cost in excess
of the par value of the securities purchased, any premium paid for the
securities shall be deducted from the first interest received and returned
to the fund from which the investment was purchased, and only the net
amount is considered interest income.