- (a) A contract may be renewed under this chapter if the county board of finance for a county subject to IC 5-13-7-1 or the fiscal body of a political subdivision and the investing officer of the political subdivision agree with the depository to renew the contract under the same terms or better terms as the original contract.
- (b) The term of a renewed contract may not be longer than the term of the original contract.
- (c) A contract may be renewed any number of times.
As added by P.L.173-2003, SEC.3.