South Carolina § 11-57-710 Exception to investment prohibition on case-by-case basis.

South Carolina Statutes

§ 11-57-710 — Exception to investment prohibition on case-by-case basis.

South Carolina·Title 11 PUBLIC FINANCE·Ch. 57 IRAN DIVESTMENT ACT

Notwithstanding Section 11-57-700, an investment may be made in a person engaged in investment activities in Iran as described in Section 11-57-300, on a case-by-case basis, if:

(1)the investment activities in Iran were made before the effective date of this act, the investment activities in Iran have not been expanded or renewed after the effective date of this act, and the person has adopted, publicized, and is implementing a formal plan to cease the investment activities in Iran and to refrain from engaging in any new investments in Iran; or (2) the investor makes a determination that the investments are necessary to perform its functions.

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Notwithstanding Section 11-57-700, an investment may be made in a person engaged in investment activities in Iran as described in Section 11-57-300, on a case-by-case basis, if: (1) the investment activities in Iran were made before the effective date of this act, the investment activities in Iran have not been expanded or renewed after the effective date of this act, and the person has adopted, publicized, and is implementing a formal plan to cease the investment activities in Iran and to refrain from engaging in any new investments in Iran; or (2) the investor makes a determination that the investments are necessary to perform its functions.

South Carolina § 11-57-710 (Exception to investment prohibition on case-by-case basis.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.