Public Finance

CHAPTER 35-10.3
Divestiture of Investments in Iran

SECTION 35-10.3-3

§ 35-10.3-3. Identification of companies. [Expires July 1, 2018.].

(a) Within ninety (90) days following the effective date of this chapter, the public fund shall make its best efforts to identify all scrutinized companies in which the public fund has direct or indirect holdings or could possibly have such holdings in the future. Such efforts shall include, as appropriate:

(1) Reviewing and relying, as appropriate in the public fund's judgment, on publicly available information regarding companies with business operations in Iran, including information provided by nonprofit organizations, research firms, international organizations, and government entities; and/or

(2) Contacting asset managers contracted by the public fund that invest in companies with business operations in Iran; and/or

(3) Contacting other institutional investors that have divested from and/or engaged with companies that have business operations in Iran.

(b) By the first meeting of the public fund following the ninety (90) day period described in subsection (a), the public fund shall assemble all scrutinized companies identified into a "scrutinized companies list."

(c) The public fund shall update the scrutinized companies list on an annual basis based on evolving information from, among other sources, those listed in subsection (a).

History of Section.
(P.L. 2013, ch. 173, § 1; P.L. 2013, ch. 225, § 1.)