§ 5-22-16.5-8 — Activities that qualify as engaging in investment activities in Iran; exception

Indiana § 5-22-16.5-8

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 22: PUBLIC PURCHASING
• Ch. 16.5: Disqualification of Contractors Dealing with the

Text

(a) For purposes of this chapter, a person
engages in investment activities in Iran if either of the following is true:
(1) The person provides goods or services of twenty million
dollars ($20,000,000) or more in value in the energy sector of
Iran, including providing any of the following for the energy
sector of Iran:
(A) Oil or liquified natural gas tankers.
(B) Products used to construct or maintain pipelines used to
transport oil or liquified natural gas.
(2) The person is a financial institution that extends twenty
million dollars ($20,000,000) or more in credit to another person,
for forty-five (45) days or more, if that other person:
(A) will use the credit to provide goods or services in the
energy sector in Iran; and
(B) is, at the time the financial institution extends credit, a
person identified on the list as a person engaging in investment
activities in Iran under subdivision (1).
(b) A person's investment contract with the Indiana public
retirement system may not be used as the basis for making a
determination under this chapter that the person is engaged in
investment activities in Iran.

Legislative History

As added by P.L.21-2012, SEC.4.