Sec. 6. (a) A financial institution that is a depository for the state on March 21, 1996, and any successor financial institution, continues to be a depository for the state after March 21, 1996, without reapplying under IC 5-13-10.5 , until the earliest of the following occurs: (1) The board of depositories revokes the status of the financial institution as a depository. (2) The financial institution notifies the state board of finance that the financial institution is resigning as a depository for the state. (3) Another law terminates the depository status of the financial institution. A financial institution that qualifies under this subsection as a depository for the state after March 21, 1996, shall be treated after March 21, 1996, as if the financial institution were designated as a depository under IC 5-13-10.5 . (b) A financial institution that is a depository for a political subdivision on March 21, 1996, and any successor financial institution continues to be a depository for the political subdivision after March 21, 1996, without reapplying under IC 5-13-10.5 or IC 5-13-8-1 , until the earliest of the following occurs: (1) The state board of finance revokes the status of the financial institution as a depository. (2) The financial institution notifies the state board of finance or the local board of finance for the political subdivision that the financial institution is resigning as a depository for the political subdivision. (3) Another law terminates the depository status of the financial institution. A financial institution that qualifies under this subsection as a depository for a political subdivision after March 21, 1996, shall be treated after March 21, 1996, as if the financial institution were designated as a depository under IC 5-13-8 . (c) Subject to IC 5-13-8-9 , a financial institution that is a depository for the state on March 21, 1996, and any successor financial institution is eligible after March 21, 1996, to become a depository for any political subdivision for which the financial institution is not already a depository without reapplying under IC 5-13-10.5 or IC 5-13-8-1 . A financial institution that qualifies under this subsection as a depository for a political subdivision after March 21, 1996, shall be treated after March 21, 1996, as if the financial institution were designated as a depository under IC 5-13-8 . (d) The treasurer of state shall add any financial institution that qualifies as a depository for political subdivisions under subsection (b) or (c) to the list of depositories eligible to receive the public funds of political subdivisions under IC 5-13-8-1 . IC 5-13-6 Chapter 6. Deposit of Public Funds 5-13-6-1 Procedure for deposit of public funds 5-13-6-2 Fees collected for services rendered 5-13-6-3 Taxes collected by county treasurer; deposit; advance by county auditor to political subdivisions; semiannual distribution 5-13-6-4 Support payments; clerk of circuit court may elect not to follow accounting and depository procedure prescribed; prenumbered receipts and support cashbook
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