Service Charge for Management of System; Payment by Direct Charge or From Interest Earned

  1. Law
  2. Indiana Code
  3. State and Local Administration
  4. Investment of Public Funds
  5. Investment Cash Management System
  6. Service Charge for Management of System; Payment by Direct Charge or From Interest Earned

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Sec. 3. The contract may provide for the depository to assess a service charge for its management of the investment cash management system. The service charge may be paid:

(1) by direct charge to the deposit or other account; or

(2) in a manner that subtracts the service charge from interest earned on the funds in the deposit or other account.

As added by P.L.19-1987, SEC.13. Amended by P.L.66-1989, SEC.2; P.L.147-2011, SEC.3; P.L.202-2011, SEC.3.


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