Sec. 18. (a) Except as provided in subsection (b), the divestment requirements of this chapter do not apply to existing investments in private market funds.

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Terms Used In Indiana Code 5-10.2-13-18

     (b) The requirements of section 11 of this chapter shall apply to existing investments in private market funds.

     (c) Notwithstanding any provision to the contrary, sections 9 and 11 of this chapter do not apply to indirect holdings in actively managed investment funds.

     (d) If a manager creates a similar actively managed investment fund without the restricted entities, the board shall replace all applicable investments with investment in the similar actively managed investment fund in a period consistent with prudent investing standards.

As added by P.L.104-2023, SEC.1.