(a) (1) If a public investment entity reports an investment in a Chinese company or a restricted investment product under § 25-1-1503, the public investment entity shall establish a plan to divest from the Chinese company or restricted investment product.(2) The public investment entity shall complete the divestment required under subdivision (a)(1) of this section as soon as financially prudent.(3) Notwithstanding subdivision (a)(2) of this section, a public investment entity shall remove one hundred percent (100%) of investments in a Chinese company or a restricted investment product from a fund's assets within twelve (12) months after the public investment entity first reports the investment in the Chinese company or restricted investment product.
(1) If a public investment entity reports an investment in a Chinese company or a restricted investment product under § 25-1-1503, the public investment entity shall establish a plan to divest from the Chinese company or restricted investment product.
(2) The public investment entity shall complete the divestment required under subdivision (a)(1) of this section as soon as financially prudent.
(3) Notwithstanding subdivision (a)(2) of this section, a public investment entity shall remove one hundred percent (100%) of investments in a Chinese company or a restricted investment product from a fund's assets within twelve (12) months after the public investment entity first reports the investment in the Chinese company or restricted investment product.
(b) Divestment as required by subsection (a) of this section is not required from a restricted investment product if:(1) Less than one percent (1%) of the value of the restricted investment product is made up of investments in Chinese companies; or(2) The cost over the next five (5) years to the public investment entity of divesting from the restricted investment product is greater than one percent (1%) of the value of the public investment entity's total investment portfolio.
(1) Less than one percent (1%) of the value of the restricted investment product is made up of investments in Chinese companies; or
(2) The cost over the next five (5) years to the public investment entity of divesting from the restricted investment product is greater than one percent (1%) of the value of the public investment entity's total investment portfolio.
(c) (1) If an investment is subject to divestment under this subchapter but is locked into a maturity date and an early divestment would result in a financial penalty or loss and cause a negative financial impact to the state, the investment is exempt from divestiture under this subchapter in order to prevent financial harm to the state and to ensure that the fiduciary duty for the state is met.(2) Exemption from divestiture under subdivision (c)(1) of this section shall extend no more than twelve (12) months after the maturity date or after the date on which the divestment would not result in a financial penalty or loss, whichever occurs first.
(1) If an investment is subject to divestment under this subchapter but is locked into a maturity date and an early divestment would result in a financial penalty or loss and cause a negative financial impact to the state, the investment is exempt from divestiture under this subchapter in order to prevent financial harm to the state and to ensure that the fiduciary duty for the state is met.
(2) Exemption from divestiture under subdivision (c)(1) of this section shall extend no more than twelve (12) months after the maturity date or after the date on which the divestment would not result in a financial penalty or loss, whichever occurs first.