Indiana Code 5-10.2-10-20. Notice to scrutinized company with active business operations
(1) that is identified under section 18 of this chapter as one in which a fund has direct or indirect holdings; and
Terms Used In Indiana Code 5-10.2-10-20
- active business operations: means all business operations that are not inactive business operations. See Indiana Code 5-10.2-10-2
- board: refers to the board of trustees of the Indiana public retirement system established by Indiana Code 5-10.2-10-3
- business operations: means engaging in any commerce in any form in a state that sponsors terror. See Indiana Code 5-10.2-10-4
- company: means any of the following:
Indiana Code 5-10.2-10-5
- fund: refers to the following:
Indiana Code 5-10.2-10-8
- inactive business operations: means the mere continued holding or renewal of rights to property previously operated to generate revenues but not presently deployed for that purpose. See Indiana Code 5-10.2-10-9
- indirect holdings: means all securities of a company that are:
Indiana Code 5-10.2-10-10
- state sponsor of terror: means a country determined by the Secretary of State of the United States to have repeatedly provided support for acts of international terrorism. See Indiana Code 5-10.2-10-15
- system: refers to the Indiana public retirement system established by Indiana Code 5-10.2-10-16.5
a written notice concerning the contents of this chapter and a statement indicating that a fund’s holdings in the company may become subject to divestment by the fund (before July 1, 2011) or system.
(b) A notice sent under this section must:
(1) offer the company the opportunity to clarify the company’s state sponsor of terror related activities; and
(2) encourage the company to:
(A) cease its scrutinized business operations; or
(B) convert the company’s operations to inactive business operations in order to avoid divestment by the fund (before July 1, 2011) or system of a fund’s holdings in the company;
not later than one hundred eighty (180) days after the date of the notice.
As added by P.L.67-2009, SEC.1. Amended by P.L.35-2012, SEC.73.