Indiana § 28-11-2-9 - Financial institutions fund

§ 28-11-2-9. Financial institutions fund

Sec. 9. (a) The financial institutions fund is established.

(b) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. Interest that accrues from these investments shall be deposited in the state general fund.

(c) All revenue accruing to the department shall be paid into the fund.

(d) All expenses incurred and all compensation paid by the department shall be paid out of the fund in the same manner as other state expenses and compensation are paid.

(e) Money in the fund at the end of a fiscal year does not revert to the state general fund.

(f) All civil penalties assessed by the department shall be paid into the fund.

(g) If the department is required to defend the constitutionality of any of the statutes or rules the department administers, the costs and expenses incurred in connection with the defense may not:

(1) be paid from the fund; or

(2) be assessed in any way to the department's budget.

As added by P.L.33-1991, SEC.56. Amended by P.L.89-2011, SEC.69.

IC 28-11-3Chapter 3. Supervision of Financial Institutions

28-11-3-1Examination of financial institutions; independent audit; report of condition; data processing services; use of report by Federal Home Loan Bank; unauthorized actions concerning reports; examination of vendors 28-11-3-2Visitorial powers 28-11-3-3Disclosure of confidential information; information sharing agreements 28-11-3-4Documents, reports, and other papers; certified copies; prima facie evidence 28-11-3-5Schedule of fees; classification of assets; changes or modifications of fees; excess costs of examinations 28-11-3-6Federal preemption; exemption of state chartered entities and subsidiaries from provisions of state law