An investment in public funds (as defined in IC 5-13-4-20 ):

1. (1) made or entered into before March 21, 1996; and

2. (2) that:

   1. (A) would have been in compliance with this chapter, as amended by P.L.18-1996, if this chapter, as amended by P.L.18-1996, had been in effect at the time the investment was made or agreement entered into;
   2. (B) is no longer in effect on March 21, 1996; or

   3. (C) is brought into compliance with this chapter, as amended by P.L.18-1996, not later than June 19, 1996;

      is legalized and validated.

As added by P.L.220-2011, SEC.93.