5-10.2-11-18. Restricted Business Excluded From Federal Sanctions
Sec. 18. If the United States government affirmatively declares any business on the restricted business list to be excluded from any federal sanctions related to boycott, divest from, or sanction Israel activity, the business is not subject to divestment or investment prohibition under this chapter. As added by P.L.177-2016, SEC.1.
5-10.2-11-19. Exclusion of Indirect Holdings in Actively Managed Investment Funds
Sec. 19. Notwithstanding any provision to the contrary, sections 16 and 17 of this chapter do not apply to indirect holdings in actively managed investment funds. However, if a fund has indirect holdings in an actively managed investment fund containing the securities of restricted businesses, the board shall submit letters to the managers of the […]
5-10.2-11-20. Investment in Private Equity Partnership
Sec. 20. This chapter does not apply directly to private equity funds. However, the board shall ensure that reasonable efforts are made during the due diligence process before an investment is made in a private equity partnership to determine whether any investments by the private equity general partner on behalf of the private equity partnership […]
5-10.2-11-21. Report to General Assembly
Sec. 21. (a) On or before November 1, 2017, and thereafter as directed by the legislative council, the board shall submit a report in an electronic format under IC 5-14-6 to the executive director of the legislative services agency for distribution to the members of the general assembly. (b) The report must include at least […]
5-10.2-11-22. Expiration of Chapter
Sec. 22. This chapter expires on the earliest of the following: (1) Twelve (12) months after the date on which boycott, divest from, or sanction Israel activity ceases. (2) The date on which the United States government revokes any sanctions imposed on persons engaged in boycott, divest from, or sanction Israel activity. (3) The date […]
5-10.2-11-23. Exemption From Conflicting Statutory or Common Law Obligations
Sec. 23. With respect to actions taken in compliance with this chapter, including all good faith determinations regarding businesses on the restricted business list, the system shall be exempt from any conflicting statutory or common law obligations, including any obligations with respect to choice of asset managers, investment funds, or investments for fund securities portfolios. […]
5-10.2-11-24. Cessation of Divestment and Reinvestment in Restricted Businesses; Report to General Assembly
Sec. 24. (a) Notwithstanding any provision to the contrary, the system is permitted to cease divesting and to reinvest in certain restricted businesses on the restricted business list if evidence shows that the value for all assets under management by the system on a fund’s behalf becomes equal to or less than ninety-nine and five-tenths […]
5-10.2-11-25. Immunity; Indemnification of the Fund and Its Agents
Sec. 25. (a) Both: (1) the state and officers, agents, and employees of the state; and (2) the system and the board members, executive director, officers, agents, and employees of the system; are immune from civil liability for any act or omission related to the removal of an asset from a fund under this chapter. […]
5-10.2-11-26. Severability
Sec. 26. The provisions of this chapter are severable in the manner provided under IC 1-1-1-8(b). As added by P.L.177-2016, SEC.1.
5-10.2-11-15. Compliance by Restricted Business
Sec. 15. If, within ninety (90) days after the system’s first engagement with a business under section 14 of this chapter, the business ceases boycott, divest from, or sanction Israel activity, the business shall be removed from the restricted business list and sections 16, 17, 18, and 19 of this chapter cease to apply to […]