Sec. 15. (a) This section applies to the authority, the board, the treasurer of state, and any other person that does any of the following with respect to the trust established under this chapter:

(1) Commits a breach of the trust.

Terms Used In Indiana Code 8-14-15.1-15

  • Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
  • authority: refers to the Indiana finance authority. See Indiana Code 8-14-15.1-1
  • board: refers to the next level Indiana fund investment board established by section 7 of this chapter. See Indiana Code 8-14-15.1-2
  • trust: refers to the next level Indiana trust fund established under section 5 this chapter. See Indiana Code 8-14-15.1-3
(2) Violates the mandate of the trust or the trust agreement.

(3) Violates a duty imposed by this chapter or the trust agreement.

     (b) The attorney general may petition a court to impose one (1) or more of the following remedies for a breach or violation enumerated in subsection (a):

(1) Injunctive relief.

(2) Appointment of temporary receivers.

(3) Permanent removal of any person serving on the board.

(4) Appointment of a permanent replacement for any person serving on the board pending approval of a replacement by the governor.

Any remedy under this subsection is in addition to any other remedy available at law or in equity.

As added by P.L.217-2017, SEC.69.

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