Ind. Code § 4-33-23-13
Economic development payments; deposits
Indiana · Indiana Code Title 4 — State Offices and Administration · Status: effective
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- Ind. Code § 4-33-23-13, Economic development payments; deposits, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1605018
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Sec. 13.
(a) Any recipient of an economic development payment must deposit the economic development payment into a separate and segregated bank account not later than five (5) days after its receipt.
(b) The bank account referenced in subsection (a):
(1) must allow expenditures only in accordance with the terms of the development agreement;
(2) must be used to account for and report the proceeds of economic development payments; and
(3) must be maintained at an FDIC insured bank that is located in and has a corporate presence in the State of Indiana.