Title 5, STATE AND LOCAL ADMINISTRATION

Sec. 12. As used in this chapter, "marginalized populations of Sudan" includes the following: (1) The part of the population in the Darfur region that has been genocidally victimized. (2) The part of the population of southern Sudan victimized by Sudan's north-south civil war. (3…

Sec. 13. (a) As used in this chapter, "military equipment" means weapons, arms, or military defense supplies provided directly or indirectly to any force actively participating in the conflict in Sudan. The term includes any equipment that readily may be used for military purpose…

Sec. 14. (a) As used in this chapter, "mineral extraction activities" means the exploration, extraction, processing, transporting, or wholesale sale of elemental minerals or associated metals or oxides, including: (1) gold; (2) copper; (3) chromium; (4) chromite; (5) diamonds; (6…

Sec. 15. (a) As used in this chapter, "oil related activities" includes: (1) the export of oil; (2) the extraction of or production of oil; (3) the exploration for oil; (4) the ownership of rights to oil blocks; (5) the refining or processing of oil; (6) the transportation of oil…

Sec. 16. As used in this chapter, "power production activities" means any business operation that involves a project commissioned by the National Electricity Corporation of Sudan or other similar entity of the government of Sudan whose purpose is to facilitate power generation an…

Sec. 17. As used in this chapter, "research firm" means a reputable, neutral third party research firm not controlled by the fund (before July 1, 2011) or system. As added by P.L.149-2007, SEC.3. Amended by P.L.35-2012, SEC.52.

Sec. 18. (a) As used in this chapter, "scrutinized company" means a company that meets any of the following criteria: (1) Both of the following apply to the company: (A) The company has business operations that involve contracts with or the provision of supplies or services to: (…

Sec. 19. As used in this chapter, "social development company" means a company whose primary purpose in Sudan is to provide humanitarian goods or services, including: (1) medicine or medical equipment; (2) agricultural supplies or infrastructure; (3) educational opportunities; (4…

Sec. 2. As used in this chapter, "board" refers to the board of trustees of the Indiana public retirement system established by IC 5-10.5-3-1. As added by P.L.149-2007, SEC.3. Amended by P.L.23-2011, SEC.11.

Sec. 20. As used in this chapter, "substantial action" means: (1) adopting, publicizing, and implementing a formal plan to cease scrutinized business operations within one (1) year and to refrain from any new business operations; (2) undertaking significant humanitarian efforts o…

Sec. 20.5. As used in this chapter, "system" refers to the Indiana public retirement system established by IC 5-10.5-2-1. As added by P.L.35-2012, SEC.53.

Sec. 21. (a) Not later than March 30, 2008, the board shall make a good faith effort to identify all scrutinized companies in which a fund has direct or indirect holdings. (b) In carrying out its responsibilities under subsection (a), and at the board's discretion, the board may …

Sec. 22. After the board creates or updates the scrutinized company list under section 21 of this chapter, the board shall immediately identify the companies on the scrutinized company list in which a fund has direct or indirect holdings. As added by P.L.149-2007, SEC.3. Amended …

Sec. 23. (a) Each fund (before July 1, 2011) or the board shall send to each scrutinized company: (1) that is identified under section 22 of this chapter as one in which a fund has direct or indirect holdings; and (2) that has only inactive business operations; a written notice c…

Sec. 24. (a) Each fund (before July 1, 2011) or the board shall send to each scrutinized company: (1) that is identified under section 22 of this chapter as one in which a fund has direct or indirect holdings; and (2) that has active business operations; a written notice concerni…

Sec. 25. (a) If, within ninety (90) days after a fund's (before July 1, 2011) or the system's first engagement with a company under section 24 of this chapter, the company ceases scrutinized business operations, the company shall be removed from a fund's scrutinized company list …

Sec. 26. (a) Except as provided in sections 28 and 29 of this chapter, if, after ninety (90) days after a fund's (before July 1, 2011) or the system's first engagement with a company under section 24 of this chapter, the company continues to have scrutinized active business opera…

Sec. 27. Except as provided in sections 28 and 29 of this chapter, a fund (before July 1, 2011) or the system shall not acquire for a fund securities of companies on the scrutinized company list that have active business operations. As added by P.L.149-2007, SEC.3. Amended by P.L…

Sec. 28. If the government of the United States affirmatively declares any company on the scrutinized company list with active business operations in Sudan to be excluded from any federal sanctions relating to Sudan, the company is not subject to divestment or investment prohibit…

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 scrutinize…

Sec. 3. As used in this chapter, "business operations" means engaging in any commerce in any form in Sudan. As added by P.L.149-2007, SEC.3.

Sec. 30. This chapter does not apply to private equity funds. As added by P.L.149-2007, SEC.3.

Sec. 31. (a) On or before November 1, 2007, 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 legislative council for distribution to the members of the general assembly. (b) The report must inclu…

Sec. 32. This chapter expires on the earliest of the following: (1) Twelve (12) months after the date the government of Sudan halts the genocide in Darfur as determined by the Congress of the United States and the United States Department of State. (2) The date the United States …

Sec. 33. With respect to actions taken in compliance with this chapter, including all good faith determinations regarding companies on the scrutinized company list, the fund (before July 1, 2011) or system shall be exempt from any conflicting statutory or common law obligations, …

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 t…

Sec. 35. (a) Both: (1) the state and its officers, agents, and employees; and (2) the fund (before July 1, 2011) or system and its board members, executive director, officers, agents, and employees; are immune from civil liability for any act or omission related to the removal of…

Sec. 36. The provisions of this chapter are severable in the manner provided in IC 1-1-1-8(b). As added by P.L.149-2007, SEC.3.

Sec. 4. (a) As used in this chapter, "company" means any of the following: (1) A sole proprietorship. (2) An organization. (3) An association. (4) A corporation. (5) A partnership. (6) A joint venture. (7) A limited partnership. (8) A limited liability partnership. (9) A limited …

Sec. 5. For purposes of this chapter, a company is "complicit in the Darfur genocide" if the company took any actions during the preceding twenty (20) month period that directly support or promote the genocidal campaign in the Darfur region of Sudan, including any of the followin…

Sec. 6. As used in this chapter, "cost of divestment" means the sum of the following: (1) The costs associated with the sale, redemption, divestment, or withdrawal of an investment. (2) The costs associated with the acquisition and maintenance of a replacement investment. (3) A c…

Sec. 7. As used in this chapter, "direct holdings" means all securities of a company held directly by the system on behalf of a fund or in an account in which the system on behalf of a fund owns all shares or interests. As added by P.L.149-2007, SEC.3. Amended by P.L.35-2012, SEC…

Sec. 8. As used in this chapter, "fund" refers to the following: (1) The Indiana state teachers' retirement fund. (2) The public employees' retirement fund. As added by P.L.149-2007, SEC.3.

Sec. 9. (a) As used in this chapter, "government of Sudan" refers to the government in Khartoum, Sudan, that is led by the National Congress Party (formally known as the National Islamic Front) or any successor government formed on or after October 13, 2006, including the coaliti…

Sec. 1. Petition for Administration. (a) The members of a retirement system, other than the Indiana state teachers' retirement fund, may petition the board to assume the administration of their retirement system if: (1) the system was in existence on March 31, 1947; and (2) the s…

Sec. 2. Actuarial Investigation and Audit of Accounts. After the board receives the petition: (1) the actuary shall determine the actuarial soundness of the retirement system; and (2) the state board of accounts shall audit the records and accounts of the retirement system. As ad…

Sec. 3. Administration by the Board. After reviewing the actuarial investigation and audit, the board may choose to administer the plan as a trustee in compliance with the law which created the plan. As added by Acts 1977, P.L.53, SEC.3.

Sec. 4. Advisory Board. The board of trustees or administrators of the retirement system shall act as advisors to the fund's director. As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.5-1990, SEC.11.

Sec. 6. Investments. All investments made after the transfer shall be made by the board. As added by Acts 1977, P.L.53, SEC.3.

Sec. 7. Separate Records. The board shall keep separate detailed records of the general or annuitant's reserve of each retirement system which it administers. As added by Acts 1977, P.L.53, SEC.3.

Sec. 8. Limited Liability. The liabilities of a retirement system which is administered by the board are not liabilities of the fund, except as provided for in the agreement between the retirement system and the board. As added by Acts 1977, P.L.53, SEC.3.

Sec. 1. The following definitions apply throughout this chapter: (1) "Account" has the meaning set forth in IC 5-10.4-8-2. (2) "Plan" has the meaning set forth in IC 5-10.4-8-2. As added by P.L.217-2017, SEC.59. Amended by P.L.27-2019, SEC.18.

Sec. 2. On the effective date of the plan, a school corporation becomes a participant in the plan. As added by P.L.217-2017, SEC.59.

Sec. 3. After a school corporation becomes a participant in the plan, its governing body may make appropriations, make payments, and do all things required under IC 5-10.4-8. As added by P.L.217-2017, SEC.59.

Sec. 4. The board shall maintain separate accounts for each contribution rate group. Credits and charges to these accounts shall be made as prescribed under IC 5-10.4-8. As added by P.L.217-2017, SEC.59.

Sec. 5. A school corporation shall make the appropriations and payments required under this article and IC 5-10.2 from its education fund or operations fund in accordance with the categories of expenditures established under IC 20-42.5-3. As added by P.L.217-2017, SEC.59. Amended…