Sec. 0.3. The general assembly finds the following: (1) Mandatory divestment by the funds of the funds’ holdings in certain companies is a measure that should be employed only under extraordinary circumstances. (2) States that are designated as a state sponsor of terror by the Secretary of State of the United States are providing military, […]
Sec. 1. The requirements for mandatory divestment contained in this chapter are separate and distinct from the requirements for mandatory divestment contained in IC 5-10.2-9. As added by P.L.67-2009, SEC.1.
Sec. 10. As used in this chapter, “indirect holdings” means all securities of a company that are: (1) held in an account or a fund; and (2) managed by one (1) or more persons: (A) who are not employed by the fund (before July 1, 2011) or system; and (B) in which the fund (before […]
Sec. 10.2. (a) As used in this chapter, “military equipment” means weapons, arms, or military defense supplies provided directly or indirectly to any force of a state sponsor of terror. The term includes any equipment that readily may be used for military purposes, including: (1) radar systems; or (2) military grade transport vehicles. (b) The […]
Sec. 10.4. (a) As used in this chapter, “mineral extraction activities” means the exploration, extraction, processing, transporting, or wholesale sale of elemental minerals or associated metals or oxides, including: (1) gold; (2) copper; (3) chromium; (4) chromite; (5) diamonds; (6) iron; (7) iron ore; (8) silver; (9) tungsten; (10) uranium; and (11) zinc. (b) The […]
Sec. 10.6. (a) As used in this chapter, “oil related activities” includes: (1) the export of oil; (2) the extraction of or production of oil; (3) the exploration for oil; (4) the ownership of rights to oil blocks; (5) the refining or processing of oil; (6) the transportation of oil; (7) the selling or trading […]
Sec. 10.8. As used in this chapter, “power production activities” means any business operation that involves a project commissioned by a state sponsor of terror whose purpose is to facilitate power generation and delivery. The term includes the following: (1) Establishing power generating plants or hydroelectric dams. (2) Selling or installing components for power generating […]
Sec. 11. As used in this chapter, “private market fund” means any: (1) private equity fund; (2) private equity fund of funds; (3) venture capital fund; (4) hedge fund; (5) hedge fund of funds; (6) real estate fund; or (7) investment vehicle; that is not publicly traded. As added by P.L.67-2009, SEC.1.
Sec. 12. As used in this chapter, “scrutinized business operations” means business operations that have caused a company to become a scrutinized company. As added by P.L.67-2009, SEC.1.
Sec. 13. (a) As used in this chapter, “scrutinized company” means a company that meets any of the following criteria: (1) Both of the following apply to the company: (A) The company has business operations that involve contracts with or the provision of supplies or services to: (i) a state sponsor of terror; (ii) companies […]
Sec. 14. (a) As used in this chapter, “social development company” means a company that is: (1) licensed by the United States Department of Treasury under the Federal Trade Sanction Reform and Export Enhancement Act of 2000 (P.L. 106-387); or (2) lawfully operating under the laws of another country whose primary purpose in a state […]
Sec. 15. As used in this chapter, “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. As added by P.L.67-2009, SEC.1.
Sec. 16. As used in this chapter, “substantial action” means adopting, publicizing, and implementing a formal plan to cease scrutinized business operations within one (1) year and to refrain from any new business operations. As added by P.L.67-2009, SEC.1.
Sec. 16.5. As used in this chapter, “system” refers to the Indiana public retirement system established by IC 5-10.5-2-1. As added by P.L.35-2012, SEC.69.
Sec. 17. (a) Not later than March 30, 2010, the board shall make a good faith effort to identify all scrutinized companies in which a fund has direct or indirect holdings. (b) In carrying out its responsibilities under subsection (a), the board may use existing research or contract with a research firm. (c) A board […]
Sec. 18. After the board creates or updates the scrutinized company list under section 17 of this chapter, the board shall immediately identify the companies on the scrutinized company list in which a fund has direct or indirect holdings. As added by P.L.67-2009, SEC.1. Amended by P.L.35-2012, SEC.71.
Sec. 19. (a) Each fund (before July 1, 2011) or the board shall send to each scrutinized company: (1) that is identified under section 18 of this chapter as one in which a fund has direct or indirect holdings; and (2) that has only inactive business operations; a written notice concerning the provisions of this […]
Sec. 2. As used in this chapter, “active business operations” means all business operations that are not inactive business operations. As added by P.L.67-2009, SEC.1.
Sec. 20. (a) Each fund (before July 1, 2011) or the board shall send to each scrutinized company: (1) that is identified under section 18 of this chapter as one in which a fund has direct or indirect holdings; and (2) that has active business operations; a written notice concerning the contents of this chapter […]
Sec. 21. (a) If, within one hundred eighty (180) days after a fund (before July 1, 2011) or the system first sends written notice to a company under section 20 of this chapter, the company ceases scrutinized business operations, the company shall be removed from a fund’s scrutinized company list, and sections 22, 23, 24, […]
