Sec. 4. (a) Securities shall be held for the fund by banks or trust companies under a custodial agreement. Income, interest, proceeds of sale, materials, redemptions, and all other receipts from securities and other investments which the board retains for the cash working balance shall be deposited as authorized by the board.

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Terms Used In Indiana Code 5-10.3-5-4

  • Board: as used in this article means the board of trustees of the Indiana public retirement system established by Indiana Code 5-10.3-1-1
  • Contract: A legal written agreement that becomes binding when signed.
  • Fund: as used in this article means the public employees' retirement fund. See Indiana Code 5-10.3-1-3
     (b) The board may contract with investment counsel, trust companies, or banks to assist the board in its investment program.

As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.46-1988, SEC.4; P.L.55-1993, SEC.2; P.L.195-1999, SEC.19; P.L.1-2002, SEC.16; P.L.115-2009, SEC.10.

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