Indiana § 5-13-9-2.5 Permitted investments; limitations

Indiana Statutes

§ 5-13-9-2.5 — Permitted investments; limitations

Indiana § 5-13-9-2.5

Title 5STATE AND LOCAL ADMINISTRATION

Art. 13INVESTMENT OF PUBLIC FUNDS

Ch. 9Deposit and Investment Powers

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Bluebook

Ind. Code § 5-13-9-2.5 (2026).

Text

5.

(a)An officer designated in section 1 of this chapter may invest or reinvest funds that are held by the officer and available for investment in investments commonly known as money market mutual funds that are in the form of securities of or interests in an open-end, no-load, management-type investment company or investment trust registered under the provisions of the federal Investment Company Act of 1940, as amended (15 U.S.C. 80a et seq.).

(b)The investments described in subsection (a) shall be made through depositories designated by the state board of finance as depositories for state deposits under IC 5-13-9.5.

(c)The portfolio of an investment company or investment trust described in subsection (a) must be limited to the following:

(1)Direct obligations of the United States. (2

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5. (a) An officer designated in section 1 of this
chapter may invest or reinvest funds that are held by the officer and
available for investment in investments commonly known as money
market mutual funds that are in the form of securities of or interests in
an open-end, no-load, management-type investment company or
investment trust registered under the provisions of the federal
Investment Company Act of 1940, as amended (15 U.S.C. 80a et seq.).
(b) The investments described in subsection (a) shall be made
through depositories designated by the state board of finance as
depositories for state deposits under IC 5-13-9.5.
(c) The portfolio of an investment company or investment trust
described in subsection (a) must be limited to the following:
(1) Direct obligations of the United States.
(2) Obligations issued by any of the following:
(A) A federal agency.
(B) A federal instrumentality.
(C) A federal government sponsored enterprise.
(3) Repurchase agreements fully collateralized by obligations
described in subdivision (1) or (2).
(d) The form of securities of or interests in an investment company
or investment trust described in subsection (a) must be rated as one (1)
of the following:
(1) AAAm, or its equivalent, by Standard and Poor's Corporation
or its successor.
(2) Aaa, or its equivalent, by Moody's Investors Service, Inc. or its
successor.
(e) The form of securities in an investment company or investment
trust described in subsection (a) is considered to have a stated final
maturity of one (1) day.
(f) The state board of accounts may rely on transaction
confirmations evidencing ownership of the form of securities of or
interests in an investment company or investment trust described in
subsection (a).