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

Indiana § 5-13-5-5

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

Text

(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.

Legislative History

As added by P.L.19-1987, SEC.7. Amended by P.L.61-2002, SEC.9; P.L.35-2012, SEC.91.