Indiana Code 5-10.2-9-24. Notice to scrutinized company with active business operations
(1) that is identified under section 22 of this chapter as one in which a fund has direct or indirect holdings; and
Terms Used In Indiana Code 5-10.2-9-24
- active business operations: means all business operations that are not inactive business operations. See Indiana Code 5-10.2-9-1
- board: refers to the board of trustees of the Indiana public retirement system established by Indiana Code 5-10.2-9-2
- business operations: means engaging in any commerce in any form in Sudan. See Indiana Code 5-10.2-9-3
- company: means any of the following:
Indiana Code 5-10.2-9-4
- fund: refers to the following:
Indiana Code 5-10.2-9-8
- inactive business operations: means the mere continued holding or renewal of rights to property previously operated to generate revenues but not presently deployed for such purpose. See Indiana Code 5-10.2-9-10
- indirect holdings: means all securities of a company:
Indiana Code 5-10.2-9-11
- system: refers to the Indiana public retirement system established by Indiana Code 5-10.2-9-20.5
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 shall:
(1) offer the company the opportunity to clarify the company’s Sudan related activities; and
(2) encourage the company, within ninety (90) days after the date of the written notice, to either:
(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.
As added by P.L.149-2007, SEC.3. Amended by P.L.35-2012, SEC.57.