Section 14-31-2-12 - Trustee of stewardship trusts The trustee of trust I and trust II shall do the following:
(1) Accept the following: (A) Transfers from the fund to trust I and trust II in accordance with this chapter.(B) Any other unrestricted contribution to the trust.(2) Invest contributions to trust I to earn the highest interest consistent with prudent management for permanent preservation of principal.(3) Invest contributions to trust II to earn the highest interest consistent with prudent investment, preservation of principal, and reasonable liquidity.(4) Distribute the income from trust I and trust II quarterly in accordance with the instructions to be provided by the division under section 15 of this chapter.(5) Distribute the principal of trust II upon and in accordance with instructions from the division under section 16 of this chapter.Pre-1995 Recodification Citation: 14-4-5.1-5.
As added by P.L. 1-1995, SEC.24.