Indiana § 20-41-1-9 - Deposits and accounts
Full text of Indiana Indiana Code § 20-41-1-9 — Deposits and accounts, with citation guidance and answers to common questions.
§ 20-41-1-9. Deposits and accounts
Sec. 9. (a) The treasurer shall deposit all receipts in one (1) bank account. The receipts shall be deposited without unreasonable delay. The account is known as the school extracurricular account. The records of each organization, class, or activity shall be kept separate so that the balance in each fund may be known at all times.
(b) The money in the school extracurricular account may be invested under the conditions specified in IC 5-13-10 and IC 5-13-10.5 for investment of state money. However, investments under this section are at the discretion of the principal. The interest earned from any investment may be credited to the school extracurricular account and need not be credited proportionately to each separate extracurricular fund. The interest earned from the investment may be used for any of the following:
(1) A school purpose approved by the principal.
(2) An extracurricular purpose approved by the principal.
(c) Amounts expended under this section for the purposes described in this section are in addition to the appropriation under IC 20-26-5-4(a)(3).
[Pre-2006 Recodification Citation: 20-26-6-6.]
As added by P.L.2-2006, SEC.164. Amended by P.L.233-2015, SEC.294.
IC 20-41-2Chapter 2. School Lunch and Textbook Rental Programs
20-41-2-1Repealed 20-41-2-2Repealed 20-41-2-3Repealed 20-41-2-4School lunch program; school corporation account required 20-41-2-5Accounting methods for curricular materials program 20-41-2-6School corporations; expenditures without appropriation 20-41-2-7Indianapolis public schools; application of other laws
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 20-41-1-9
What does Indiana Code § 20-41-1-9 cover?
Section 20-41-1-9 ("Deposits and accounts") 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 § 20-41-1-9?
A common citation format is "Indiana Code § 20-41-1-9" (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 § 20-41-1-9 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.