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26-4-4-2. Fund administration expenses

IN Code § 26-4-4-2 (2019) (N/A)
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Sec. 2. (a) The administrative expense account is created within the fund.

(b) The expenses of administering the fund and paying administrative expenses must be paid from money in the administrative expense account.

(c) The board may transfer annually not more than two hundred fifty thousand dollars ($250,000) from the fund to the administrative expense account.

(d) Administrative expenses under this section may include:

(1) processing refunds;

(2) enforcement of the fund;

(3) record keeping in relation to the fund;

(4) the ordinary management and investment fees connected with the operation of the fund;

(5) legal fees and legal expenses in actions brought against the corporation or board and that have been approved by the board; and

(6) the use of supplemental consulting services.

(e) The agency may not use money in the administrative expense account for expenses other than the expenses described in subsection (d).

As added by P.L.250-1995, SEC.1. Amended by P.L.5-2009, SEC.2; P.L.60-2015, SEC.15; P.L.145-2017, SEC.16.

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