§ 28-14-3-9 — Investment and reinvestment of assets

Indiana § 28-14-3-9

• Jurisdiction: Indiana
• Art. 14: CORPORATE FIDUCIARIES
• Ch. 3: Powers and Duties

Text

(a) Notwithstanding any other law, a corporate
fiduciary, in exercising investment discretion in its fiduciary capacity
with respect to the investment and reinvestment of assets, may invest
and reinvest the assets, subject to the standard set forth in IC 30-4-3-3(c), in the securities of any open-end or closed-end
management investment company or investment trust registered under
the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.).
(b) If a corporate fiduciary invests or reinvests assets under
subsection (a), the fact that the corporate fiduciary or any affiliate of
the corporate fiduciary is:
(1) providing services to the investment company or trust as
investment adviser, sponsor, distributor, custodian, transfer agent,
registrar, or otherwise; and
(2) receiving reasonable remuneration for the services provided;
does not preclude the corporate fiduciary from investing in the
securities of the investment company or trust.

Legislative History

As added by P.L.262-1995, SEC.90.