Sec. 807.001. DEFINITIONS. In this chapter:
(1) "Active business operations" means all business operations that are not inactive business operations.
(2) "Board" means the State Pension Review Board.
(3) "Business operations" means engaging in commerce in any form in Iran, including by acquiring, developing, maintaining, owning, selling, possessing, leasing, or operating equipment, facilities, personnel, products, services, personal property, real property, or any other apparatus of business or commerce.
(4) "Company" means a sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited liability company, or other entity or business association whose securities are publicly traded, including a wholly owned subsidiary, majority-owned subsidiary, parent company, or affiliate of those entities or business associations, that exists to make a profit.
(5) "Direct holdings" means, with respect to a company, all securities of that company held directly by a state governmental entity in an account or fund in which a state governmental entity owns all shares or interests.
(6) "Inactive business operations" means the mere continued holding or renewal of rights to property previously operated to generate revenue but not presently deployed to generate revenue.
(7) "Indirect holdings" means, with respect to a company, all securities of that company held in an account or fund, such as a mutual fund, managed by one or more persons not employed by a state governmental entity, in which the state governmental entity owns shares or interests together with other investors not subject to the provisions of this chapter. The term does not include money invested under a plan described by Section 401(k) or 457 of the Internal Revenue Code of 1986.
(8) "Listed company" means a company listed by the board under Section 807.051.
(9) "Military equipment" means weapons, arms, military supplies, and equipment that readily may be used for military purposes, including radar systems and military-grade transport vehicles.
(10) "Scrutinized company" means a company that engages in scrutinized business operations described by Section 807.002.
(11) "State governmental entity" means:
(A) the Employees Retirement System of Texas, including a retirement system administered by that system;
(B) the Teacher Retirement System of Texas;
(C) the Texas Municipal Retirement System;
(D) the Texas County and District Retirement System; and
(E) the Texas Emergency Services Retirement System.
Added by Acts 2013, 83rd Leg., R.S., Ch. 1152 (S.B. 200), Sec. 14(a), eff. January 1, 2014.
Section: 807.001 807.002 807.003 807.004 807.005 807.006 807.007 807.008 807.051 807.052 807.053 807.054 807.055 807.056 807.057 NextLast modified: September 28, 2016