Senate Bill 332
Enrolled Senate Bill (S)
Authored by
Co-Authored by
Sponsored by
DIGEST
State and local investments. Provides that investments in municipal securities must have a stated final maturity of five years or less. Permits the treasurer of state to invest with supranational issuers. (Current law limits the investment to the International Bank for Reconstruction and Redevelopment and the African Development Bank.) Provides that a public depository may invest funds in the same investments and for the same terms as the treasurer of state may invest funds of the state. Amends the Indiana Code provision that allows the treasurer of state to lend certain securities if the agreement under which the securities are
State and local investments. Provides that investments in municipal securities must have a stated final maturity of five years or less. Permits the treasurer of state to invest with supranational issuers. (Current law limits the investment to the International Bank for Reconstruction and Redevelopment and the African Development Bank.) Provides that a public depository may invest funds in the same investments and for the same terms as the treasurer of state may invest funds of the state. Amends the Indiana Code provision that allows the treasurer of state to lend certain securities if the agreement under which the securities are
lent is collateralized to provide that: (1) cash; or (2) non-cash collateral if the state is indemnified by the custodian holding the non-cash collateral; are acceptable forms of collateral. (Current law provides that: (1) cash; or (2) certain interest bearing obligations of the federal government; are acceptable forms of collateral.)
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