# Ind. Code § 5-1.5-8-7: Investment and reinvestment; securities sold to bank

> Indiana · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-7

## Section

- **Citation:** Ind. Code § 5-1.5-8-7
- **Heading:** Investment and reinvestment; securities sold to bank
- **Jurisdiction:** Indiana
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Indiana Code / Title 5 / Article 1.5 / Chapter 8 / Section 5-1.5-8-7

## Text

Sec. 7. Notwithstanding any statute applicable to or constituting any limitation on the investment or reinvestment of funds by or on behalf of political subdivisions, a qualified entity selling securities to the bank in connection with a program established by the bank may invest and reinvest funds that constitute, replace, or substitute for the proceeds of securities sold to the bank under an established bank program in any instrument or other investment authorized under a resolution of the bank.

As added by P.L.29-1992, SEC.3.

## Nearby sections

- [Ind. Code § 5-1.5-8-1 Purchase of securities offered by qualified entity; private sale; issuance of bonds and notes for purpose of purchase](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-1.md)
- [Ind. Code § 5-1.5-8-2 Securities to be purchased and held in name of bank; required documentation](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-2.md)
- [Ind. Code § 5-1.5-8-3 Contracts with bank; terms and conditions; fees and charges; denomination and prices](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-3.md)
- [Ind. Code § 5-1.5-8-4 Agreement with bank; waiver of statutory defenses to nonpayment; rights and remedies of bank](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-4.md)
- [Ind. Code § 5-1.5-8-5 Department or agency of state as custodian of money payable to qualified entity; duty on default on payment of principal or interest by qualified entity](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-5.md)
- [Ind. Code § 5-1.5-8-5.1 Authorization to convey revenue or taxes to issuing entity](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-5.1.md)
- [Ind. Code § 5-1.5-8-6 Repealed](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-6.md)
- [Ind. Code § 5-1.5-8-6.1 Anticipation notes; issuance and purchase](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-6.1.md)
- [Ind. Code § 5-1.5-8-7 Investment and reinvestment; securities sold to bank](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-7.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-7. Check the current official text before relying on it. Not legal advice.