§ 8-14-15.1-11 — Treasurer of state to administer and manage trust

Indiana § 8-14-15.1-11

• Jurisdiction: Indiana
• Art. 14: HIGHWAY FINANCES
• Ch. 15.1: Next Level Indiana Trust Fund

Text

(a) The treasurer of state shall:
(1) administer and manage the trust;
(2) invest the money in the trust at the direction of the trustee
consistent with the investment policies adopted by the board; and
(3) deposit in the trust:
(A) any accrued interest from the investment of money in the
trust;
(B) proceeds from the sale of trust assets; and
(C) other income or returns from the investment of money in
the trust.
(b) Notwithstanding IC 5-13, the treasurer of state shall invest the
money in the trust not currently needed to meet the obligations of the
trust under the investment policies adopted by the board. The treasurer
of state on behalf of the board may contract with investment
management professionals, investment advisers, and legal counsel to
assist in the investment of the trust and may pay the expenses incurred
under those contracts from the trust.
(c) IC 4-9.1-1-8 and IC 4-9.1-1-9 do not apply to a trust established
under this chapter.
(d) Money and investments in the trust at the end of the state fiscal
year do not revert to the state general fund.

Legislative History

As added by P.L.217-2017, SEC.69.