Indiana Code 5-10.2-9-29. Exclusion of indirect holdings in actively managed investment funds
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Terms Used In Indiana Code 5-10.2-9-29
- active business operations: means all business operations that are not inactive business operations. See Indiana Code 5-10.2-9-1
- board: refers to the board of trustees of the Indiana public retirement system established by Indiana Code 5-10.2-9-2
- business operations: means engaging in any commerce in any form in Sudan. See Indiana Code 5-10.2-9-3
- fund: refers to the following:
Indiana Code 5-10.2-9-8
- indirect holdings: means all securities of a company:
Indiana Code 5-10.2-9-11
Sec. 29. 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.
As added by P.L.149-2007, SEC.3. Amended by P.L.35-2012, SEC.61.