Title GV, Government Code

Sec. 2270.0005. CONFLICT WITH OTHER LAW. To the extent of a conflict between this chapter and a provision of Chapter 404 or 2256 regarding an investing entity's investments, this chapter prevails. Added by Acts 2007, 80th Leg., R.S., Ch. 1375 (S.B. 247), Sec. 2, eff. January 1, 2…

Sec. 2270.0006. INDEMNIFICATION OF INVESTING 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 this chapter, the state shall,…

Sec. 2270.0007. 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, or any other person may not sue or pursue a private cause of action against the…

Sec. 2270.0008. RELIANCE ON COMPANY RESPONSE. The comptroller in administering this chapter and an investing entity may rely on a company's response to a notice or communication made under this chapter without conducting any further investigation, research, or inquiry. Added by A…

Sec. 2270.0051. DEFINITIONS. In this subchapter: (1) "Business operations" means engaging in commerce in any form in Sudan, including by acquiring, developing, maintaining, owning, selling, possessing, leasing, or operating equipment, facilities, personnel, products, services, pe…

Sec. 2270.0052. SCRUTINIZED BUSINESS OPERATIONS IN SUDAN. A company engages in scrutinized business operations in Sudan if: (1) the company has business operations that involve contracts with or providing supplies or services to the government of Sudan, a company in which the gov…

Sec. 2270.0053. SOCIAL DEVELOPMENT COMPANY. Notwithstanding any other law, a social development company that is not complicit in the Darfur genocide is not a scrutinized company under Section 2270.0001(9)(A). Added by Acts 2007, 80th Leg., R.S., Ch. 1375 (S.B. 247), Sec. 2, eff. …

Sec. 2270.0101. DEFINITIONS. In this subchapter: (1) "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, per…

Sec. 2270.0102. SCRUTINIZED BUSINESS OPERATIONS IN IRAN. A company engages in scrutinized business operations in Iran if: (1) the company has business operations that involve contracts with or providing supplies or services to the government of Iran, a company in which the govern…

Sec. 2270.0121. DESIGNATION AS COUNTRY OF CONCERN. (a) The governor, after consultation with the public safety director of the Department of Public Safety, may designate a country as a country of concern for purposes of this subchapter. (b) The governor shall consult the Homeland…

Sec. 2270.0122. PROHIBITION ON INVESTMENT IN COUNTRY OF CONCERN. An investing entity may not acquire a security issued by a country of concern or an entity owned or controlled by or subject to the jurisdiction of a country of concern. Added by Acts 2025, 89th Leg., R.S., Ch. 362 …

Sec. 2270.0123. PROHIBITION AGAINST INVESTMENT OR DEPOSIT IN CERTAIN BANKS. An investing entity may not invest or make a deposit in a bank with a principal place of business located in a country of concern. Added by Acts 2025, 89th Leg., R.S., Ch. 362 (H.B. 34), Sec. 3, eff. Sept…

Sec. 2270.0124. SCRUTINIZED COMPANIES IN COUNTRIES OF CONCERN. (a) Except as provided by Subsection (b), a company is a scrutinized company if: (1) the company is organized under the laws of, is headquartered in, or has its principal place of business in the territory of a countr…

Sec. 2270.0151. DEFINITIONS. In this subchapter: (1) "Business operations" means engaging in commerce in any form, including by acquiring, developing, maintaining, owning, selling, possessing, leasing, or operating equipment, facilities, personnel, products, services, personal pr…

Sec. 2270.0152. SCRUTINIZED BUSINESS OPERATIONS WITH DESIGNATED FOREIGN TERRORIST ORGANIZATION. A company engages in scrutinized business operations with a designated foreign terrorist organization if: (1) the company has business operations that involve: (A) a contract with or p…

Sec. 2270.0153. LIST OF DESIGNATED FOREIGN TERRORIST ORGANIZATIONS. (a) The comptroller shall prepare and maintain a list of designated foreign terrorist organizations. (b) The comptroller shall maintain the list by updating the list as necessary to reflect changes in the list of…

Sec. 2270.0201. LISTED COMPANIES. (a) The comptroller shall prepare and maintain a list of all scrutinized companies. The list must be categorized according to: (1) companies that are scrutinized companies under Section 2270.0001(9)(A); (2) companies that are scrutinized companie…

Sec. 2270.0202. IDENTIFICATION OF INVESTMENT IN LISTED COMPANIES. Not later than the 30th day after the date an investing entity receives a list provided under Section 2270.0201, the entity shall notify the comptroller of the listed companies in which the entity owns direct or in…

Sec. 2270.0203. NOTICE TO LISTED COMPANY ENGAGED IN INACTIVE BUSINESS OPERATIONS. For each listed company identified under Section 2270.0202 that is engaged in only inactive scrutinized business operations, the investing entity shall send a written notice informing the company of…

Sec. 2270.02035. ACTIONS RELATED TO LISTED COMPANY OWNED OR CONTROLLED BY OR LOCATED IN COUNTRY OF CONCERN. (a) For each listed company identified under Section 2270.0202 that is a scrutinized company under Section 2270.0124, the investing entity shall send a written notice infor…

Sec. 2270.0204. ACTIONS RELATING TO LISTED COMPANY ENGAGED IN ACTIVE BUSINESS OPERATIONS. (a) For each listed company identified under Section 2270.0202 that is engaged in scrutinized active business operations, the investing entity shall send a written notice informing the compa…

Sec. 2270.0205. ACTIONS RELATING TO LISTED COMPANY COMPLICIT IN GENOCIDE. (a) In this section, "complicit" has the meaning assigned by Section 2270.0051. (b) For each company identified under Section 2270.0202 that has been complicit, the investing entity shall send a written not…

Sec. 2270.0206. DIVESTMENT OF ASSETS. (a) An investing entity required to sell, redeem, divest, or withdraw all publicly traded securities of a listed company shall comply with the following schedule: (1) at least 50 percent of those assets shall be removed from the investing ent…

Sec. 2270.0207. INVESTMENTS EXEMPTED FROM DIVESTMENT. An investing entity is not required to divest from any indirect holdings in actively managed investment funds or private equity funds. The investing entity shall submit letters to the managers of investment funds containing li…

Sec. 2270.0208. AUTHORIZED INVESTMENT IN LISTED COMPANIES. (a) An investing entity may cease divesting from or may reinvest in one or more listed companies if clear and convincing evidence shows that the value for all assets under management by the entity becomes equal to or less…

Sec. 2270.0209. PROHIBITED INVESTMENTS. Except as provided by Sections 2270.0002 and 2270.0208, an investing entity may not acquire securities of a listed company. Added by Acts 2007, 80th Leg., R.S., Ch. 1375 (S.B. 247), Sec. 2, eff. January 1, 2008. Transferred, redesignated an…

Sec. 2270.0251. EXPIRATION OF CHAPTER. This chapter expires September 1, 2037. Added by Acts 2007, 80th Leg., R.S., Ch. 1375 (S.B. 247), Sec. 2, eff. January 1, 2008. Transferred, redesignated and amended from Government Code, Chapter 806 by Acts 2017, 85th Leg., R.S., Ch. 96 (S.…

Sec. 2270.0252. REPORT. Not later than December 31 of each year, each investing entity shall: (1) file a publicly available report with the presiding officer of each house of the legislature and the attorney general that: (A) identifies all investments sold, redeemed, divested, o…

Sec. 2270.0253. 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, eff. January 1, 2008. Transferred, redesignated and amended from Government Code, Chapter 806 by Acts 2017, …