Indiana § 5-10.4-3-10 Investments

Indiana Statutes

§ 5-10.4-3-10 — Investments

Indiana § 5-10.4-3-10

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10.4STATE TEACHERS' RETIREMENT FUND

Ch. 3Board

This text of Indiana § 5-10.4-3-10 (Investments) 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 § 5-10.4-3-10 (2026).

Text

(a)The board shall invest its assets with the care, skill, prudence, and diligence that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character with like aims. The board also shall diversify investments in accordance with prudent investment standards, subject to the limitations and restrictions set forth in IC 5-10.2-2-18.

(b)The board may:

(1)make or have investigations made concerning investments; and

(2)contract for and employ investment counsel to advise and assist in the purchase and sale of securities.

(c)The board is not subject to IC 4-13, IC 4-13.6, or IC 5-16 when managing real property as an investment. A management agreement entered into by the board shall ensure that the management agent acts

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(a) The board shall invest its assets with the
care, skill, prudence, and diligence that a prudent person acting in a
like capacity and familiar with such matters would use in the conduct
of an enterprise of a like character with like aims. The board also shall
diversify investments in accordance with prudent investment standards,
subject to the limitations and restrictions set forth in IC 5-10.2-2-18.
(b) The board may:
(1) make or have investigations made concerning investments;
and
(2) contract for and employ investment counsel to advise and
assist in the purchase and sale of securities.
(c) The board is not subject to IC 4-13, IC 4-13.6, or IC 5-16 when
managing real property as an investment. A management agreement
entered into by the board shall ensure that the management agent acts
in a prudent manner regarding the purchase of goods and services.
Contracts for the management of investment property shall be
submitted to the governor, the attorney general, and the budget agency
for approval. A contract for the management of real property as an
investment:
(1) may not exceed a four (4) year term and must be based upon
guidelines established by the board;
(2) may provide that the property manager may collect rent and
make disbursements for routine operating expenses such as
utilities, cleaning, maintenance, and minor tenant finish needs;
(3) shall establish, consistent with the board's duty under IC 30-4-3-3(c), guidelines for the prudent management of
expenditures related to routine operation and capital
improvements; and
(4) may provide specific guidelines for the board to:
(A) purchase new properties;
(B) contract for the construction or repair of properties; and
(C) lease or sell properties;
without individual transactions requiring the approval of the
governor, the attorney general, the Indiana department of
administration, and the budget agency. However, each individual
contract involving the purchase or sale of real property is subject
to review and approval by the attorney general at the specific
request of the attorney general.
(d) Whenever the board takes bids in managing or selling real
property, the board shall require a bid submitted by a trust (as defined
in IC 30-4-1-1(a)) to identify all the following:
(1) Each beneficiary of the trust.
(2) Each settlor empowered to revoke or modify the trust.
[Pre-2006 Education Finance Recodification Citation:
21-6.1-3-9.]