What to do with security deposits in Indiana

[Robert A Lawson]

I have been a property manager (and my wife a realtor) for many years on a smaller scale; helping out relatives and friends. But recently my company has exploded in the Hamilton County, IN area. I knew never to touch any security deposits, don't view it as any income, must be put in trust, etc. And I haven't done anything but keep the deposits in a business savings account. But now that there is tens of thousands in the account, Is there anything I can do with it to have it grow more than 0.01% in a savings account?

I looked over the real estate laws in Indiana, which haven't changed much since the 70's, but not much is said about what you can do with deposits. Just that they are to be securely held and returned. Does anybody else in Indiana know of a safe account I can move deposits to gain more interest?

I would guess that larger management companies have money managers that put a certain percentage into other investments.