Sec. 11. (a) The authority shall invest the money in the fund in accordance with an investment policy adopted by the authority. Interest, premiums, gains, or other earnings from the investments shall be credited to and deposited in the fund.

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 5-1.2-15.5-11

  • Fiduciary: A trustee, executor, or administrator.
  • fund: refers to the residential housing infrastructure assistance revolving fund established by section 9 of this chapter. See Indiana Code 5-1.2-15.5-3
  • Trustee: A person or institution holding and administering property in trust.
     (b) As an alternative to subsection (a), the authority may invest or cause to be invested all or a part of the fund in a fiduciary account or accounts with a trustee that is a financial institution. Notwithstanding any other law, any investment may be made by the trustee in accordance with one (1) or more trust agreements or indentures. A trust agreement or indenture may permit disbursements by the trustee to:

(1) a participant;

(2) the authority; or

(3) any person to which the authority or a participant is obligated, as provided in the trust agreement or indenture.

As added by P.L.204-2023, SEC.5.

  Previous section
Next section  
 Chapter 15.5 Contents