§ 5-10.2-9-24 — Notice to scrutinized company with active business operations

Indiana § 5-10.2-9-24

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10.2: PUBLIC RETIREMENT AND DISABILITY
• Ch. 9: Sudan Divestment

Text

(a) Each fund (before July 1, 2011) or the
board shall send to each scrutinized company:
(1) that is identified under section 22 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 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.

Legislative History

As added by P.L.149-2007, SEC.3. Amended by P.L.35-2012, SEC.57.