Indiana § 5-13-5-5 Transacting business with financial institution or public retirement
fund through use of electronic funds transfer; ordinance or resolution

Indiana Statutes

§ 5-13-5-5 — Transacting business with financial institution or public retirement fund through use of electronic funds transfer; ordinance or resolution

Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 13 INVESTMENT OF PUBLIC FUNDS·Ch. 5 General Provisions

(a)The fiscal body of any political subdivision may by ordinance or resolution authorize the proper legal officers of the political subdivision to transact the political subdivision's business with a financial institution or a public pension or retirement fund administered by the Indiana public retirement system through the use of electronic funds transfer.

(b)The ordinance or resolution must:

(1)specify the types of transactions that may be conducted by electronic funds transfer; and

(2)require the proper officers to maintain adequate documentation of the transactions so that they may be audited as provided by law.

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(a) The fiscal body of any political subdivision
may by ordinance or resolution authorize the proper legal officers of
the political subdivision to transact the political subdivision's business
with a financial institution or a public pension or retirement fund
administered by the Indiana public retirement system through the use
of electronic funds transfer.
(b) The ordinance or resolution must:
(1) specify the types of transactions that may be conducted by
electronic funds transfer; and
(2) require the proper officers to maintain adequate
documentation of the transactions so that they may be audited as
provided by law.

Indiana § 5-13-5-5 (Transacting business with financial institution or public retirement fund through use of electronic funds transfer; ordinance or resolution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.