Section 4-33-23-13 - Economic development payments; deposits(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.Added by P.L. 82-2011, SEC. 1, eff. 4/28/2011.