IC 5-10.2-13-18: Exclusions; investment in similar actively managed investment fund

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.

(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.