Section 5-10.5-7-2 - Transfer or assumption of tangible and intangible property; transfer of powers and duties(a) All powers, duties, liabilities, property, equipment, records, rights, and contracts of the:(1) board of trustees of the public employees' retirement fund; and(2) board of trustees of the teachers' retirement fund; are transferred to or assumed by the board on July 1, 2011.
(b) The board shall provide indemnification of:(1) the board of trustees of the public employees' retirement fund; and(2) the board of trustees of the teachers' retirement fund; as necessary or appropriate in regard to any liabilities of the public employees' retirement fund or the teachers' retirement fund assumed by the board.
Added by P.L. 23-2011, SEC. 22, eff. 7/1/2011.