Indiana Code 8-14-15.1-8. Investment policy requirements
(1) Money in the trust may be invested in investments that:
Terms Used In Indiana Code 8-14-15.1-8
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- trust: refers to the next level Indiana trust fund established under section 5 this chapter. See Indiana Code 8-14-15.1-3
(B) make significant investments in Indiana funds and companies; and
(C) have such other investment parameters and procedures as the board determines are prudent to ensure that investments are consistent with this chapter.
(2) Money in the trust shall be invested in investments that, consistent with the other terms and objectives in the investment policy, give preference to Indiana companies or Indiana venture capital firms.
(3) Not more than twenty-five million dollars ($25,000,000) may be invested in any one (1) particular investment fund or investment firm.
(4) Such other investment parameters and procedures as the board determines are prudent to ensure that investments are consistent with this chapter.
(b) The investment policy adopted by the board must give adequate time to change current investments in a prudent manner.
(c) The board may contract with investment management professionals, investment advisers, and legal counsel to assist in the investment of the fund and may pay the expenses incurred under those contracts from the fund.
(d) The board has the powers, duties, restrictions, limitations, and penalties in connection with the board’s and the treasurer of state’s investment and management of the assets of trust as if the following provisions pertaining to the public pension and retirement funds made reference to the trust and the board:
(1) IC 5-10.2-2-2.5.
(2) IC 5-10.2-2-13.
(3) IC 5-10.3-5-3.
(4) IC 5-10.3-5-4.
(5) IC 5-10.3-5-5.
(6) IC 5-10.3-5-6.
(7) IC 5-10.4-3-10.
(8) IC 5-10.4-3-12.
(9) IC 5-10.4-3-13.
(10) IC 5-10.4-3-14.
(11) IC 5-10.4-3-15.
(12) IC 5-10.4-3-16.
(e) Compliance with the established investment policy is definitive evidence of compliance with the applicable investment standards in subsection (d).
As added by P.L.217-2017, SEC.69. Amended by P.L.189-2018, SEC.78; P.L.201-2023, SEC.113.