Indiana § 36-1-8-7 - Bank deposit or cash on hand constituting pledge or guaranty
Full text of Indiana Indiana Code § 36-1-8-7 — Bank deposit or cash on hand constituting pledge or guaranty, with citation guidance and answers to common questions.
§ 36-1-8-7. Bank deposit or cash on hand constituting pledge or guaranty
Sec. 7. A bank deposit or cash on hand, together with any accrued interest, constituting a pledge or guaranty on behalf of a political subdivision shall be deposited as a part of the funds of the political subdivision and be credited to the proper funds by the officers having custody of those funds after one (1) year has elapsed after the period for which the pledge or guaranty has been posted to a special account.
[Pre-Local Government Recodification Citation: 18-6-11-4.]
As added by Acts 1980, P.L.211, SEC.1.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-1-8-7
What does Indiana Code § 36-1-8-7 cover?
Section 36-1-8-7 ("Bank deposit or cash on hand constituting pledge or guaranty") 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 § 36-1-8-7?
A common citation format is "Indiana Code § 36-1-8-7" (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 § 36-1-8-7 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.