As used in this act:
(a)"Act" means the countries of concern divestment act.
(b)"Company" means any:
(1)For-profit corporation, partnership, limited partnership, limited liability partnership, limited liability company, joint venture, trust, association, sole proprietorship or other organization, including any:
(A)Subsidiary of such company, a majority ownership interest of which is held by such company;
(B)parent company that holds a majority ownership of such company; and
(C)other affiliate or business association of such company whose primary purpose is to make a profit; or
(2)nonprofit organization.
(c)(1) "Country of concern" means the following:
(A)People's republic of China, including the Hong Kong special administrative region;
Free access — add to your briefcase to read the full text and ask questions with AI
As used in this act:
(a) "Act" means the countries of concern divestment act.
(b) "Company" means any:
(1) For-profit corporation, partnership, limited partnership, limited liability partnership, limited liability company, joint venture, trust, association, sole proprietorship or other organization, including any:
(A) Subsidiary of such company, a majority ownership interest of which is held by such company;
(B) parent company that holds a majority ownership of such company; and
(C) other affiliate or business association of such company whose primary purpose is to make a profit; or
(2) nonprofit organization.
(c) (1) "Country of concern" means the following:
(A) People's republic of China, including the Hong Kong special administrative region;
(B) republic of Cuba;
(C) islamic republic of Iran;
(D) democratic people's republic of Korea;
(E) Russian federation; and
(F) Bolivarian republic of Venezuela.
(2) "Country of concern" does not include the republic of China (Taiwan).
(d) "Covered transaction" means the same as defined in 31 C.F.R. § 800.213, as in effect on July 1, 2024.
(e) "Covered control transaction" means the same as defined in 31 C.F.R. § 800.210, as in effect on July 1, 2024.
(f) "Domicile" means the country where:
(1) A company is organized;
(2) a company completes a substantial portion of its business; or
(3) a majority of a company's ownership interest is held.
(g) "Person" means an individual.
(h) "Person owned or controlled by or subject to the jurisdiction or direction of a country of concern" means any:
(1) Person, wherever located, who is a citizen of a nation-state controlled by a country of concern, unless such person is a lawful permanent resident of the United States; or
(2) corporation, partnership, association or other organization organized under the laws of a nation-state controlled by a country of concern.
(i) "State agency" means any department, authority, bureau, division, office or other governmental agency of this state.
(j) "State-managed fund" means:
(1) The Kansas public employees retirement fund managed by the board of trustees of the Kansas public employees retirement system in accordance with K.S.A. 74-4921, and amendments thereto;
(2) the pooled money investment portfolio managed by the pooled money investment board in accordance with article 42 of chapter 75 of the Kansas Statutes Annotated, and amendments thereto; and
(3) any other fund that is sponsored or managed by a state agency.