Can this agreement be signed electronically?

Yes. Electronic signatures are legally enforceable under the federal ESIGN framework (15 U.S.C. ch. 96, 2000) and state UETA laws adopted by most states, provided the parties intend to sign, consent to an electronic record, attribution is clear, and records are retained.

Is notarization required for enforceability?

Many jurisdictions require notarization for certain acknowledgements or to record interests in public records. Determine whether a notary or a remote online notary is required by state law before relying on an unsigned electronic execution.

Can Remote Online Notarization (RON) be used?

RON is permitted in most states but rules vary. Ensure the notary platform meets state identity proofing, audio-video recording, and retention requirements before using RON for notarized acknowledgements.

What if party names or account numbers differ?

Mismatched names or account identifiers can invalidate application of collateral or delay acceptance. Correct errors before signature; document amendments clearly and re-execute when necessary.

Which signNow plan supports high-volume signing?

signNow offers Business ($8/user/mo), Business Premium ($15/user/mo) for bulk features, Enterprise ($30/user/mo) with advanced fields, and a Site License ($1.50/signature invite) for heavy usage and API integrations.

How long should I keep executed agreements?

Retain originals for the agreement term plus several years. Follow federal rules such as IRS retention (IRC §6501(a)) and industry standards; consult counsel for state-specific retention obligations.

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Indiana Board for Depositories Pledge Agreement

Indiana Board for Depositories Pledge Agreement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

What the Indiana Board for Depositories Pledge Agreement Is

The Indiana Board for Depositories Pledge Agreement is a written contract used to document collateral pledged by a financial institution to secure public deposits or municipal funds. It identifies the parties, describes the collateral, sets valuation and reporting expectations, and defines rights on default and release. Municipal treasurers, county officials, and depository banks use the agreement to meet state oversight requirements and to create an auditable record demonstrating that public funds are secured according to applicable policies.

Why a Properly Prepared Pledge Agreement Matters

A complete, accurate pledge agreement clarifies collateral obligations, reduces legal and financial exposure, and supports transparent oversight. Proper documentation simplifies audits, speeds dispute resolution, and creates a reliable evidentiary record for both the depositor and the depository.

Typical Parties and Stakeholders

The agreement is used by public finance officers, bank compliance teams, and legal counsel who manage or oversee public deposits.

Municipalities and counties responsible for safeguarding taxpayer funds and ensuring collateral requirements are met.
Depository banks that pledge securities or other collateral to secure municipal deposits and maintain reporting records.
State oversight offices and auditors that review filings, verify collateral sufficiency, and enforce compliance.

Who Signs and Who Prepares

Treasurer — Municipal

The municipal treasurer typically requests the pledge, reviews collateral descriptions and valuations, and signs on behalf of the public entity after legal and administrative review. They ensure the collateral meets state or local policy.

Bank Compliance Officer

A designated officer at the depository executes the pledge on behalf of the bank, provides required documentation, and maintains valuation and reporting schedules under the bank's compliance program.

Essential Fields to Include

Depositor Name: Full legal name of public entity

Depository Name: Full bank or financial institution name

Account Number: Bank account identifier, numeric or alphanumeric

Collateral Description: Type and CUSIP or description of pledged assets

Market Value: Valuation and valuation date

Effective Date: Agreement start date (MM/DD/YYYY)

Consequences of Inaccurate or Missing Information

Collateral Shortfall: May trigger additional deposits or enforcement

Late Reporting: Administrative sanctions or audit findings

Improper Valuation: Increases exposure on market downturns

Missing Signatures: Potential unenforceability or legal challenge

Non-Compliance: Regulatory review and corrective actions

Record Retention Failures: Problems during audits or litigation

Common Preparation Pitfalls

Using imprecise collateral descriptions that omit CUSIPs or exact security identifiers, making valuation and substitution difficult.
Failing to update market values or valuation dates on a regular schedule, resulting in understated or overstated collateral coverage.
Attaching unsigned or undated schedules and exhibits, which can render the pledge ambiguous or unenforceable in dispute.
Not confirming which version of the agreement controls when amendments are issued, creating conflicting obligations for parties.

Step-by-Step: Prepare, Execute, and File

Follow these core steps to complete a compliant pledge agreement and create an auditable record for the Indiana Board for Depositories.

01

Gather Data: Collect party names, account numbers, and security identifiers
02

Draft Agreement: Populate required fields and attach valuation schedules
03

Review & Sign: Obtain authorized signatures and necessary notarization
04

File & Retain: Submit to oversight authority and store executed copies

How to Configure a Digital Workflow

A consistent digital workflow helps manage signatures, authentication, and retention. Configure fields and roles before sending.

Field	Configuration
Signers	Designate Treasurer and Bank Official as required signers
Authentication	Use email or SMS code authentication for attribution
Notary	Enable notarization step when state law requires it
Retention	Archive signed PDF and audit trail for compliance

Distribution and Integration Considerations

Choose delivery channels and integrations that match your records management and audit requirements when sharing the pledge agreement.

Integrations: Salesforce, NetSuite, Google Workspace, Microsoft 365
File Formats: PDF and Word DOCX supported for archival
Authentication: Email, SMS code, and optional KBA

Typical Submission Flow — High Level

This sequence shows the common operational steps from drafting to the board filing for a pledge agreement.

Prepare Document: Complete required fields and attach valuation schedules
Request Signatures: Send to authorized signers with authentication
Notarize If Required: Complete in-person or remote online notarization
Submit to Board: Provide executed copy and supporting reports

Core Components of a Professional Pledge Agreement

Each core section below helps ensure clarity, enforceability, and ease of oversight when the agreement is reviewed or audited.

Parties & Recitals

Clearly identify the depositor and depository, include legal status and authority, and explain the purpose and legal basis for the pledge in a concise recital section.

Collateral Description

List each asset by precise identifier (CUSIP or legal description), state quantity, and attach schedules. Avoid generic or vague descriptions that complicate enforcement.

Valuation & Reporting

Specify valuation method, pricing source, reporting frequency, and the format for periodic reports so both parties and auditors can reconcile coverage.

Term & Release

Define the pledge term, conditions for release of collateral, and the mechanics for substitution or expiration to prevent ambiguity at termination.

Default Remedies

Describe remedies available to the depositor on default, including liquidation procedures, notice timelines, and any cure periods before enforcement.

Governing Law & Notices

Identify governing state law, venue for disputes, and proper notice addresses and methods to ensure legal correspondence is effective.

Typical Timing and Processing Expectations

Expect varying internal and external timelines for valuation, signature collection, notarization, and board review when filing pledge agreements.

Valuation Frequency:

Monthly or quarterly valuations are common for marketable securities

Signature Collection:

Allow several business days for approvals and notarization steps

Board Review:

Agency or board review may take days to weeks depending on workload

Amendments:

Process amendments promptly; document effective dates and approvals

Record Availability:

Retain signed copies accessible for audits and public records requests

eSignature Pricing Snapshot for Executing Pledge Agreements

Comparing typical vendor starting prices and core features relevant to secure execution and compliance. Confirm vendor plans and features on the provider site before purchase.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day trial	Varies	Varies	Varies	Varies
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Frequently Asked Questions and Practical Answers

Answers to frequent questions about e-signing, notarization, validity, and common processing issues for pledge agreements.

Need help? Contact support

Can this agreement be signed electronically?
Yes. Electronic signatures are legally enforceable under the federal ESIGN framework (15 U.S.C. ch. 96, 2000) and state UETA laws adopted by most states, provided the parties intend to sign, consent to an electronic record, attribution is clear, and records are retained.
Is notarization required for enforceability?
Many jurisdictions require notarization for certain acknowledgements or to record interests in public records. Determine whether a notary or a remote online notary is required by state law before relying on an unsigned electronic execution.
Can Remote Online Notarization (RON) be used?
RON is permitted in most states but rules vary. Ensure the notary platform meets state identity proofing, audio-video recording, and retention requirements before using RON for notarized acknowledgements.
What if party names or account numbers differ?
Mismatched names or account identifiers can invalidate application of collateral or delay acceptance. Correct errors before signature; document amendments clearly and re-execute when necessary.
Which signNow plan supports high-volume signing?
signNow offers Business ($8/user/mo), Business Premium ($15/user/mo) for bulk features, Enterprise ($30/user/mo) with advanced fields, and a Site License ($1.50/signature invite) for heavy usage and API integrations.
How long should I keep executed agreements?
Retain originals for the agreement term plus several years. Follow federal rules such as IRS retention (IRC §6501(a)) and industry standards; consult counsel for state-specific retention obligations.

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