However, securities may be lent under this section only if the agreement under which the securities are lent is collateralized by:(1) cash; or(2) non-cash collateral if the state is indemnified by the custodian holding the non-cash collateral;in excess of the total market value of the loaned securities.As added by P.L.18-1996, SEC.23. Amended by P.L.102-2014, SEC.4.
Indiana Legal Code