§ 147-86.55 – Article title.
147-86.55. Article title. This Article may be cited as the "Iran Divestment Act of 2015. (2015-118, s. 1.)
§ 147-86.56 – Findings.
147-86.56. Findings. The General Assembly finds that: (1) Congress and the President have determined that the illicit nuclear activities of the Government of Iran, combined with its development of unconventional weapons and ballistic missiles and its support of international terrorism, represent a serious threat to the security of the United States, Israel, and other United […]
§ 147-86.57 – Definitions.
147-86.57. Definitions. As used in this Article: (1) "Company" means any sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited liability company, or other entity or business association, including all wholly owned subsidiaries, majority-owned subsidiaries, parent companies, or affiliates of those entities or business associations. (1a) "Energy sector of Iran" […]
§ 147-86.58 – Prohibitions on State investment.
147-86.58. Prohibitions on State investment. No more than 30 days after October 1, 2015, the State Treasurer shall adopt a policy prohibiting the North Carolina Retirement Systems or the Department of the State Treasurer from investing funds with a company engaging in investment activities in Iran. At a minimum, the policy shall provide: (1) List […]
§ 147-86.60 – Restrictions on contracts with the State or subdivisions of the State.
147-86.60. Restrictions on contracts with the State or subdivisions of the State. (a) A company that is identified on a list created by the State Treasurer pursuant to G.S. 147-86.58 as a company engaging in investment activities in Iran is ineligible to contract with the State or any political subdivision of the State. (b) Any […]
§ 147-86.61 – Exceptions.
147-86.61. Exceptions. (a) G.S. 147-86.60 does not apply to contracts valued at one thousand dollars ($1,000) or less. (b) Companies engaged in substantial positive action. – Notwithstanding any other provision of this Article, a company engaged in investment activities in Iran may not be placed on the list developed pursuant to G.S. 147-86.58(1) if the […]
§ 147-86.63 – No private right of action.
147-86.63. No private right of action. (a) This Article does not create or authorize a private right of action to enforce the provisions of the Article. (b) A company may challenge being included on the lists established in this Article using the procedures in Article 3 of Chapter 150B of the General Statutes, except that […]