Indiana § 5-10.2-10-22 Divestment; exemption for certain commingled funds

Indiana Statutes

§ 5-10.2-10-22 — Divestment; exemption for certain commingled funds

Indiana § 5-10.2-10-22

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10.2PUBLIC RETIREMENT AND DISABILITY

Ch. 10Divestment From States That Sponsor Terror

This text of Indiana § 5-10.2-10-22 (Divestment; exemption for certain commingled funds) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-10.2-10-22 (2026).

Text

(a)Except as provided in sections 24 and 25 of this chapter, if a company continues to have scrutinized active business operations one hundred eighty (180) days after a fund (before July 1, 2011) or the system first sends written notice to the company under section 20 of this chapter, the fund shall sell, redeem, divest, or withdraw all publicly traded securities of the company that are held by a fund, as follows:

(1)At least fifty percent (50%) of the securities shall be removed from a fund's assets under management within three (3) years after the company's appearance on the scrutinized company list.

(2)At least seventy-five percent (75%) of the securities shall be removed from a fund's assets under management within four (4) years after the company's appearance on the scrutinized com

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(a) Except as provided in sections 24 and
25 of this chapter, if a company continues to have scrutinized active
business operations one hundred eighty (180) days after a fund (before
July 1, 2011) or the system first sends written notice to the company
under section 20 of this chapter, the fund shall sell, redeem, divest, or
withdraw all publicly traded securities of the company that are held by
a fund, as follows:
(1) At least fifty percent (50%) of the securities shall be removed
from a fund's assets under management within three (3) years
after the company's appearance on the scrutinized company list.
(2) At least seventy-five percent (75%) of the securities shall be
removed from a fund's assets under management within four (4)
years after the company's appearance on the scrutinized company
list.
(3) One hundred percent (100%) of the securities shall be
removed from a fund's assets under management within five (5)
years after the company's appearance on the scrutinized company
list.
(b) If a company that ceased scrutinized active business operations
following engagement under section 20 of this chapter resumes
scrutinized active business operations, the company shall immediately
be placed on the scrutinized company list and shall remain on the
scrutinized company list while the company continues to have active
business operations. If a fund has holdings in the company, the fund
(before July 1, 2011) or the system shall send a written notice to the
company as described in section 20 of this chapter indicating that the
company has been placed on the scrutinized company list and is subject
to divestment. The fund (before July 1, 2011) or system shall sell,
redeem, divest, or withdraw all publicly traded securities of the
company as provided in subsection (a) based on the date the company
is placed back on the scrutinized company list.
(c) The board is not required to divest the board's holdings in a
passively managed commingled fund that includes a scrutinized
company with active business operations in a state sponsor of terror if
the estimated cost of divestment of the commingled fund is greater than
ten percent (10%) of the total value of the scrutinized companies with
active business operations held in the commingled fund. The board
shall include any commingled fund that includes a scrutinized company
that is exempted from divestment under this subsection in the board's
report submitted to the legislative council under section 26 of this
chapter.