12J.1 Legislative findings and intent. The general assembly is deeply concerned and does not support boycotts and related tactics that have become a tool of economic warfare that threaten the sovereignty and security of allies and trade partners of the United States, including the state of Israel. Therefore, the general assembly intends that state funds […]
12J.2 Definitions. As used in this chapter, unless the context otherwise requires: 1. “Company” means any business or business entity that is publicly traded and that is not based in the United States. 2. “Direct holdings” in a company means all publicly traded securities of that company that are held directly by the public fund […]
12J.3 Identification of companies — notice. 1. a. By March 1, 2017, the public fund shall make its best efforts to identify or have identified all scrutinized companies in which the public fund has direct or indirect holdings or could possibly have such holdings in the future and shall create and make available to the […]
12J.4 Prohibited investments — divestment. 1. The public fund shall not acquire publicly traded securities of a company on the public fund’s most recent scrutinized companies list so long as such company remains on the public fund’s scrutinized companies list as provided in this chapter. 2. a. The public fund shall sell, redeem, divest, or […]
12J.5 Reports. 1. Scrutinized companies list. Each public fund shall, within thirty days after the scrutinized companies list is created or updated as required by section 12J.3, make the list available to the public. 2. Annual report. On October 1, 2017, and each October 1 thereafter, each public fund shall make available to the public, […]
12J.6 Public entities — contract requirements. A public entity shall not enter into a contract of one thousand dollars or more with a scrutinized company included on a scrutinized companies list created by a public fund pursuant to section 12J.3 to acquire or dispose of services, supplies, information technology, or construction. 2016 Acts, ch 1102, […]
12J.7 Legal obligations — immunity. With respect to actions taken in compliance with this chapter, including all good-faith determinations regarding companies as required by this chapter, the public fund shall be immune from any liability and exempt from any conflicting statutory or common law obligations, including any such obligations in respect to choice of asset […]
