Indiana Code 8-14-15.1-7. Next level Indiana fund investment board established; members; investment policy; meetings; quorum; voting
(1) The secretary of commerce or the secretary’s designee, who shall serve as the chairperson of the board.
Terms Used In Indiana Code 8-14-15.1-7
- 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
- President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
- Quorum: The number of legislators that must be present to do business.
- trust: refers to the next level Indiana trust fund established under section 5 this chapter. See Indiana Code 8-14-15.1-3
(3) Two (2) individuals appointed by the governor who have experience and knowledge in investments.
(4) The treasurer of state or the treasurer’s designee.
(5) One (1) individual appointed by the speaker of the house of representatives who has experience and knowledge in venture capital investments.
(6) One (1) individual appointed by the president pro tempore of the senate who has experience and knowledge in venture capital investments.
(b) The board shall serve as trustee of the trust and direct the investment of the trust.
(c) The board shall adopt an investment policy in conformance with section 8 of this chapter.
(d) The board shall hold regular meetings at least quarterly. The board may hold special meetings at the call of the treasurer of state or with a written request signed by at least two (2) members of the board.
(e) The board may hold its meetings at offices in Indiana that the chairperson or the requesting members designate. All meetings must be open to the public in accordance with IC 5-14-1.5. The board shall keep a record of its proceedings.
(f) Five (5) members of the board constitute a quorum for the transaction of business of the board. Each member of the board is entitled to one (1) vote. A vote of at least five (5) members of the board present is required for the board to adopt a resolution or take other action at a regular or special meeting.
As added by P.L.217-2017, SEC.69. Amended by P.L.135-2022, SEC.20.