§ 5-10.2-9-29 — Exclusion of indirect holdings in actively managed investment funds

Indiana § 5-10.2-9-29

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10.2: PUBLIC RETIREMENT AND DISABILITY
• Ch. 9: Sudan Divestment

Text

Notwithstanding any provision to the
contrary, sections 26 and 27 of this chapter do not apply to indirect
holdings in actively managed investment funds. However, if a fund has
indirect holdings in actively managed investment funds containing the
securities of scrutinized companies with active business operations, the
fund (before July 1, 2011) or board shall submit letters to the managers
of the investment funds requesting that the managers remove the
scrutinized companies with active business operations from the fund or
create a similar actively managed fund with indirect holdings without
scrutinized companies with active business operations. If the manager
creates a similar fund, the fund (before July 1, 2011) or board shall
replace all applicable investments with investments in the similar fund
in a period consistent with prudent investing standards.

Legislative History

As added by P.L.149-2007, SEC.3. Amended by P.L.35-2012, SEC.61.