Sec. 34. (a) Notwithstanding any provision to the contrary, the fund (before July 1, 2011) or system shall be permitted to cease divesting and to reinvest in certain scrutinized companies on the scrutinized company list with active business operations in Sudan if evidence shows that the value for all assets under management by the fund (before July 1, 2011) or the system on a fund’s behalf becomes equal to or less than ninety-nine and five-tenths percent (99.5%) of the value of all assets under management by the fund (before July 1, 2011) or the system on a fund’s behalf, including the companies divested under section 26 of this chapter.

     (b) As provided by this section, any cessation of divestment or reinvestment shall be strictly limited to the minimum steps necessary to avoid the contingency set forth in subsection (a).

Terms Used In Indiana Code 5-10.2-9-34

  • active business operations: means all business operations that are not inactive business operations. See Indiana Code 5-10.2-9-1
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • company: means any of the following:

    Indiana Code 5-10.2-9-4

  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • fund: refers to the following:

    Indiana Code 5-10.2-9-8

  • system: refers to the Indiana public retirement system established by Indiana Code 5-10.2-9-20.5
     (c) For any cessation of divestment, reinvestment, and subsequent ongoing investment authorized by this section, the fund (before July 1, 2011) or board shall submit a report in an electronic format under IC 5-14-6 to the legislative council for distribution to the members of the general assembly in advance of any initial reinvestment. The report shall be updated annually thereafter as applicable, setting forth the reasons and justifications for the decision to cease divestment, reinvest, or remain invested with companies with scrutinized active business operations. This section does not apply to companies that have ceased to have scrutinized business operations.

As added by P.L.149-2007, SEC.3. Amended by P.L.35-2012, SEC.64.

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