Indiana Statutes
§ 5-13-14-1 — Loan for proper conduct of business of state or political subdivision; limitation; pledge of deposits in closed depository
Indiana § 5-13-14-1
JurisdictionIndiana
Title 5STATE AND LOCAL ADMINISTRATION
Art. 13INVESTMENT OF PUBLIC FUNDS
Ch. 14Miscellaneous Provisions
This text of Indiana § 5-13-14-1 (Loan for proper conduct of business of state or political subdivision; limitation; pledge of deposits in closed depository) 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 § 5-13-14-1 (2026).
Text
(a)If the state or any political subdivision has
public funds on deposit in a closed depository, the state or political
subdivision may borrow an amount of money necessary for the proper
conduct of the business of the state or political subdivision.
(b)The amount of money borrowed under subsection (a) may not
exceed the amount of money the state or political subdivision has on
deposit and unpledged in the closed depository at the time the loan is
made.
(c)For the purpose of securing the payment of a loan made under
this section, the state or any political subdivision, through the treasurer
of state, county treasurer, or fiscal officer of any political subdivision
other than a county, may pledge any or all of the deposits in the closed
depository.
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Legislative History
As added by P.L.19-1987, SEC.16.
Nearby Sections
15
§ 5-1-1-1
Validation§ 5-1-1-2
Repealed§ 5-1-10-1
Issuance; purpose; restrictions§ 5-1-11-7
Restrictions on powers§ 5-1-11.5-1
"ADM"§ 5-1-11.5-2
"Bonds"§ 5-1-11.5-3
Application to certain school corporations§ 5-1-12-1
"Municipal corporation" definedCite This Page — Counsel Stack
Bluebook (online)
Indiana § 5-13-14-1, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/5-13-14-1.