Sec. 13. The treasurer of state may lend any securities acquired under section 7 or 11 of this chapter. 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.
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