Sec. 7. (a) The next level Indiana fund investment board is established. The board consists of the following members:
(1) The secretary of commerce or the secretary's designee, who shall serve as the chairperson of the board.
(2) The director of the office of management and budget or the director's designee.
(3) Two (2) individuals appointed by the governor who have experience and knowledge in investments.
(4) The treasurer of state or the treasurer's designee.
(b) The board shall serve as trustee of the trust and direct the investment of the trust.
(c) The board shall adopt an investment policy in conformance with section 8 of this chapter.
(d) The board shall hold regular meetings at least quarterly. The board may hold special meetings at the call of the treasurer of state or with a written request signed by at least two (2) members of the board.
(e) The board may hold its meetings at offices in Indiana that the chairperson or the requesting members designate. All meetings must be open to the public in accordance with IC 5-14-1.5. The board shall keep a record of its proceedings.
(f) Three (3) members of the board constitute a quorum for the transaction of business of the board. Each member of the board is entitled to one (1) vote. A vote of at least three (3) members of the board present is required for the board to adopt a resolution or take other action at a regular or special meeting.
As added by P.L.217-2017, SEC.69.
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