§ 5-13-10.5-9 — Investment in repurchase or resale agreements; collateral

Indiana § 5-13-10.5-9

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

Text

(a) A public officer of the state may invest
any funds held by the officer and available for investment into
agreements, commonly known as repurchase or resale agreements with
depositories designated by the state board of finance as depositories for
state deposits, involving the purchase and guaranteed resale of any
interest-bearing obligations that are:
(1) issued; or
(2) fully insured or guaranteed;
by the United States, any United States government agency, any
instrumentality of the United States government, or any federal
government sponsored enterprise. The amount of money in this type of
agreement must be fully collateralized by interest-bearing obligations
as determined by the current market value computed on the day on
which a transaction is effective.
(b) The collateral for the type of agreement described in subsection
(a) is not subject to the maturity limitation in section 3 of this chapter.

Legislative History

As added by P.L.18-1996, SEC.23. Amended by P.L.46-1997, SEC.16; P.L.134-2000, SEC.2.