Texas Government Code Title 8, Chapter 806 - Prohibition On Investment In Sudan

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 806.001 - Definitions
  In this chapter: (1) "Active business operations" means all business operations that are not inactive business operations. (2) "Business operations" means engaging in commerce in...
• Texas Section 806.002 - Scrutinized Business Operations
  A company engages in scrutinized business operations if: (1) the company has business operations that involve contracts with or providing supplies or services to the...
• Texas Section 806.003 - Social Development Company
  Notwithstanding any other law, a social development company that is not complicit in the Darfur genocide is not a scrutinized company. Added by Acts 2007,...
• Texas Section 806.004 - Exception
  Notwithstanding any other law, a company that the United States government affirmatively declares to be excluded from its federal sanctions regime relating to Sudan is...
• Texas Section 806.005 - Other Legal Obligations
  With respect to actions taken in compliance with this chapter, including all good faith determinations regarding companies as required by this chapter, a state governmental...
• Texas Section 806.006 - Indemnification Of State Governmental Entities, Employees, And Others
  In a cause of action based on an action, inaction, decision, divestment, investment, company communication, report, or other determination made or taken in connection with...

SUBCHAPTER B DUTIES REGARDING INVESTMENTS

• Texas Section 806.007 - No Private Cause Of Action
  (a) A person, including a member, retiree, and beneficiary of a retirement system to which this chapter applies, an association, a research firm, a company,...
• Texas Section 806.051 - Listed Companies
  (a) The comptroller shall prepare and maintain, and provide to each state governmental entity, a list of all scrutinized companies. In maintaining the list of...
• Texas Section 806.052 - Identification Of Investment In Listed Companies
  Not later than the 30th day after the date a state governmental entity receives the list provided under Section 806.051, the state governmental entity shall...
• Texas Section 806.053 - Notice To Listed Company Engaged In Inactive Business Operations
  For each listed company identified under Section 806.052 that is engaged in only inactive scrutinized business operations, the state governmental entity shall send a written...
• Texas Section 806.054 - Actions Relating To Listed Company Engaged In Active Business Operations
  (a) For each listed company identified under Section 806.052 that is engaged in scrutinized active business operations, the state governmental entity shall send a written...
• Texas Section 806.055 - Actions Relating To Listed Company Complicit In Genocide
  (a) For each company identified under Section 806.052 that has been complicit, the state governmental entity shall send a written notice informing the company of...
• Texas Section 806.056 - Divestment Of Assets
  (a) A state governmental entity required to sell, redeem, divest, or withdraw all publicly traded securities of a listed company shall comply with the following...
• Texas Section 806.057 - Investments Exempted From Divestment
  A state governmental entity is not required to divest from any indirect holdings in actively managed investment funds or private equity funds. The state governmental...
• Texas Section 806.058 - Authorized Investment In Listed Companies
  (a) A state governmental entity may cease divesting from or may reinvest in one or more listed companies if clear and convincing evidence shows that...

SUBCHAPTER C EXPIRATION; REPORT; ENFORCEMENT

• Texas Section 806.059 - Prohibited Investments
  Except as provided by Sections 806.004 and 806.058, a state governmental entity may not acquire securities of a listed company. Added by Acts 2007, 80th...
• Texas Section 806.101 - Expiration Of Chapter
  This chapter expires on the earliest of: (1) the date on which the United States Congress or the president of the United States declares that...
• Texas Section 806.102 - Report
  Not later than December 31 of each year, each state governmental entity shall file a publicly available report with the presiding officer of each house...
• Texas Section 806.103 - Enforcement
  The attorney general may bring any action necessary to enforce this chapter. Added by Acts 2007, 80th Leg., R.S., Ch. 1375 (S.B. 247), Sec. 2,...

Last modified: September 28, 2016