The fund or any part of the fund may be invested in securities bearing the rate of interest that is obtainable as follows:

1. (1) In bonds, notes, or certificates that are the obligations of, or guaranteed by, the United States.

2. (2) In:

   1. (A) bonds of any territory or insular possession of the United States;
   2. (B) bonds, notes, warrants, certificates, or orders of the state of Indiana; or

   3. (C) any political subdivision, instrumentality, or agency of the state of Indiana;

      issued under authority of law.

      [Pre-2007 Higher Education Recodification Citation: 21-7-11-3(a).]

As added by P.L.2-2007, SEC.245.