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Indiana Code Title 8. Utilities and Transportation § 8-14-15.1-11

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 11. (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.

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Cite this article: FindLaw.com - Indiana Code Title 8. Utilities and Transportation § 8-14-15.1-11 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-8-utilities-and-transportation/in-code-sect-8-14-15-1-11/

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