Indiana Code 8-14-15.1-11. Treasurer of state to administer and manage trust
(1) administer and manage the trust;
Terms Used In Indiana Code 8-14-15.1-11
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- board: refers to the next level Indiana fund investment board established by section 7 of this chapter. See Indiana Code 8-14-15.1-2
- Contract: A legal written agreement that becomes binding when signed.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- trust: refers to the next level Indiana trust fund established under section 5 this chapter. See Indiana Code 8-14-15.1-3
(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.
As added by P.L.217-2017, SEC.69.