Indiana § 21-7-14-5 - Disbursements from fund; deposit of securities
Full text of Indiana Indiana Code § 21-7-14-5 — Disbursements from fund; deposit of securities, with citation guidance and answers to common questions.
§ 21-7-14-5. Disbursements from fund; deposit of securities
Sec. 5. (a) The state board of finance shall direct all disbursement from the fund. The state comptroller shall draw the state comptroller's warrant on the treasurer of state, on a properly itemized voucher officially approved by:
(1) the president of the state board of finance; or
(2) any member of the state board of finance if the president is absent.
(b) Except as otherwise provided by this chapter, all securities purchased for the fund shall be deposited with and remain in the custody of the state board of finance. The state board of finance shall collect all interest or other income accruing on the securities, when due, together with the principal of the securities when the principal matures and is due. Except as provided by subsection (c), all money collected under this subsection shall be credited to the proper fund account on the records of the state comptroller, and the collection shall be deposited with the treasurer of state and reported to the state board of finance.
(c) All money collected under an agreement that is sold, transferred, or liquidated under IC 20-49-4-23 shall be immediately transferred to the purchaser, transferee, or assignee of the agreement.
[Pre-2007 Higher Education Recodification Citation: 21-7-4.5-5.]
As added by P.L.2-2007, SEC.244. Amended by P.L.9-2024, SEC.412.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 21-7-14-5
What does Indiana Code § 21-7-14-5 cover?
Section 21-7-14-5 ("Disbursements from fund; deposit of securities") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 21-7-14-5?
A common citation format is "Indiana Code § 21-7-14-5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 21-7-14-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.